Total Fixed Costs = $400,000 Variable Cost per Job = $500 per Job Hours Used per...
Total Fixed Costs = $400,000 Variable Cost per Job = $500 per Job Hours Used per Job = $10
Prepare a flexible budget formula for the activity using hours per job as the driver
Homework Answers
Flexible budget = Fixed cost+ variable cost per job
= 400000 + 500*job hours
Add Answer to:
Total Fixed Costs = $400,000 Variable Cost per Job = $500 per
Job Hours Used per...
Uestions Navigation Menu ing activity and wants to develop a flexible budget formula for the acti...
uestions Navigation Menu ing activity and wants to develop a flexible budget formula for the activity. The following resources are used by the activity: .Four welding units, with a lease cost of $15,000 per year per unit Six welding employees each paid a salary of $47,000 per year (A total of 12,000 welding hours are supplied by the six workers.) Welding supplies: $400 per job Welding hours: 4 hours used per job During the year, the activity operated at 80...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing...
Myers Company uses a flexible budget for manufacturing overhead
based on direct labor hours. Variable manufacturing overhead costs
per direct labor hour are as follows.
Fixed overhead costs per month are Supervision $4,400, Depreciation
$1,500, and Property Taxes $500. The company believes it will
normally operate in a range of 7,700–10,700 direct labor hours per
month.
Prepare a monthly manufacturing overhead flexible budget for 2017
for the expected range of activity, using increments of 1,000
direct labor hours. (List variable...
Activity-Based Flexible Budgeting Foy Company has a welding activity and wants to develop a flexible budget...
Activity-Based Flexible Budgeting Foy Company has a welding activity and wants to develop a flexible budget formula for the activity. The following resources are used by the activity: • Four welding units, with a lease cost of $13,000 per year per unit Six welding employees each paid a salary of $57,000 per year (A total of 12,000 welding hours are supplied by the six workers.) • Welding supplies: $400 per job • Welding hours: 4 hours used per job During...
Data Markup on job cost 75% Milling Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable...
Data Markup on job cost 75% Milling Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Department Assembly 60,000 3,000 8,000 80,000 $390,000 $500,000 $2.00 $3.75 Cost summary for Job 407 Department Milling Assembly 90 Machine-hours Direct labor-hours Direct materials Direct labor cost $800 $70 20 $370 $280 Enter a formula into each of the cells marked with a ? below Assembly Step 1: Calculate the estimated total manufacturing overhead...
Foy Company has a welding activity and wants to develop a flexible budget formula for the...
Foy Company has a welding activity and wants to develop a flexible budget formula for the activity. The following resources are used by the activity: • Four welding units, with a lease cost of $11,000 per year per unit • Six welding employees each paid a salary of $47,000 per year (A total of 9.000 welding hours are supplied by the six workers.) • Welding supplies: $300 per job • Welding hours: 3 hours used per job During the year,...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor $1.00 Indirect materials 0.50 Utilities 0.20 Fixed overhead costs per month are Supervision $3,500, Depreciation $1,000, and Property Taxes $500. The company believes it will normally operate in a range of 5,500-8,500 direct labor hours per month. Prepare a monthly manufacturing overhead flexible budget for 2017 for the expected range of activity, using...
The City Symphony Orchestra presents a series of concerts throughout the year. Budgeted fixed costs total...
The City Symphony Orchestra presents a series of concerts
throughout the year. Budgeted fixed costs total $301,000 for the
concert season; variable costs are expected to average $6.00 per
patron. The orchestra uses flexible budgeting.
Required:
Prepare a flexible budget that shows the expected costs of
8,200, 8,700, and 9,200 patrons.
Construct the orchestra's flexible budget formula.
Assume that 8,300 patrons attended concerts during the year
just ended, and actual costs were: variable, $40,000; fixed,
$311,500. Evaluate the orchestra's financial...
1.Hudson CO. predicts fixed costs of $400,000 for 2019. It’s one product sells for $170 per...
1.Hudson CO. predicts fixed costs of $400,000 for 2019. It’s one product sells for $170 per unit and it incurs variable costs of $150 per unit. The company predicts annual total sales of 25,000 units. Compute the contribution margin per unit Compute the break-even point in units using formula method Prepare a contribution margin income statement at the break-even point Using the information below apply the high-low method to determine the total fixed costs plus variable costs per unit. Highest...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows: Indirect labor $1.00 Indirect materials 0.50 Utilities 0.30 Fixed overhead costs per month are Supervision $4,100, Depreciation $1,000, and Property Taxes $500. The company believes it will normally operate in a range of 5,800–10,600 direct labor hours per month. Prepare a monthly manufacturing overhead flexible budget for 2020 for the expected range of activity, using...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor $1.00 Indirect materials 0.50 Utilities 0.30 Fixed overhead costs per month are Supervision $4,100, Depreciation $1,000, and Property Taxes $500. The company believes it will normally operate in a range of 5,800 – 10,600 direct labor hours per month. Prepare a monthly manufacturing overhead flexible budget for 2017 for the expected range of...
uestions Navigation Menu ing activity and wants to develop a flexible budget formula for the activity. The following resources are used by the activity: .Four welding units, with a lease cost of $15,000 per year per unit Six welding employees each paid a salary of $47,000 per year (A total of 12,000 welding hours are supplied by the six workers.) Welding supplies: $400 per job Welding hours: 4 hours used per job During the year, the activity operated at 80...
Myers Company uses a flexible budget for manufacturing overhead
based on direct labor hours. Variable manufacturing overhead costs
per direct labor hour are as follows.
Fixed overhead costs per month are Supervision $4,400, Depreciation
$1,500, and Property Taxes $500. The company believes it will
normally operate in a range of 7,700–10,700 direct labor hours per
month.
Prepare a monthly manufacturing overhead flexible budget for 2017
for the expected range of activity, using increments of 1,000
direct labor hours. (List variable...
Activity-Based Flexible Budgeting Foy Company has a welding activity and wants to develop a flexible budget formula for the activity. The following resources are used by the activity: • Four welding units, with a lease cost of $13,000 per year per unit Six welding employees each paid a salary of $57,000 per year (A total of 12,000 welding hours are supplied by the six workers.) • Welding supplies: $400 per job • Welding hours: 4 hours used per job During...
Data Markup on job cost 75% Milling Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Department Assembly 60,000 3,000 8,000 80,000 $390,000 $500,000 $2.00 $3.75 Cost summary for Job 407 Department Milling Assembly 90 Machine-hours Direct labor-hours Direct materials Direct labor cost $800 $70 20 $370 $280 Enter a formula into each of the cells marked with a ? below Assembly Step 1: Calculate the estimated total manufacturing overhead...
Foy Company has a welding activity and wants to develop a flexible budget formula for the activity. The following resources are used by the activity: • Four welding units, with a lease cost of $11,000 per year per unit • Six welding employees each paid a salary of $47,000 per year (A total of 9.000 welding hours are supplied by the six workers.) • Welding supplies: $300 per job • Welding hours: 3 hours used per job During the year,...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor $1.00 Indirect materials 0.50 Utilities 0.20 Fixed overhead costs per month are Supervision $3,500, Depreciation $1,000, and Property Taxes $500. The company believes it will normally operate in a range of 5,500-8,500 direct labor hours per month. Prepare a monthly manufacturing overhead flexible budget for 2017 for the expected range of activity, using...
The City Symphony Orchestra presents a series of concerts
throughout the year. Budgeted fixed costs total $301,000 for the
concert season; variable costs are expected to average $6.00 per
patron. The orchestra uses flexible budgeting.
Required:
Prepare a flexible budget that shows the expected costs of
8,200, 8,700, and 9,200 patrons.
Construct the orchestra's flexible budget formula.
Assume that 8,300 patrons attended concerts during the year
just ended, and actual costs were: variable, $40,000; fixed,
$311,500. Evaluate the orchestra's financial...
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