Homework Answers
| ORNAMENTAL SCULPTURES MFG. | |||
| Direct Materials Budget | |||
| For the Months of March and April | |||
| March | April | ||
| Budgeted Production (units) | 3500 | 5500 | |
| Materials requirement per unit (lbs.) | 8 | 8 | |
| Materials needed for production (lbs.) | 28000 | 44000 | |
| Budgeted ending Inventory (lbs.) | 8800 | 8960 | |
| Total Materials Requirements (lbs.) | 36800 | 52960 | |
| Budgeted beginning Inventory (lbs.) | 5880 | 8800 | |
| Materials to be purchased (lbs.) | 30920 | 44160 | |
| Direct Materials cost per lb. | $2.00 | $2.00 | |
| Total Budgeted Direct materials | $61,840.00 | $88,320.00 | |
| ORNAMENTAL SCULPTURES MFG. | |||
| Direct Labor Budget | |||
| For the Months of March and April | |||
| March | April | ||
| Budgeted Production (units) | 3500 | 5500 | |
| DL Hours required per unit | 0.4 | 0.4 | |
| Total direct labor hours needed | 1400 | 2200 | |
| Direct Labor rate per hour | $14.00 | $14.00 | |
| Total Budgeted direct labor | $19,600.00 | $30,800.00 | |
| ORNAMENTAL SCULPTURES MFG. | |||
| Factory Overhead Budget | |||
| For the Months of March and April | |||
| March | April | ||
| Total direct labor hours needed | 1400 | 2200 | |
| VOH rate per DL hour | $2.00 | $2.00 | |
| Budgeted Variable Overhead | $2,800.00 | $4,400.00 | |
| Budgeted Fixed Overhead | $4,600.00 | $4,600.00 | |
| Total Budgeted factory Overhead | $7,400.00 | $9,000.00 | |
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Ornamental Sculptures Mfg. manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a...
Ornamental Sculptures Mfg. manufactures garden sculptures. Each sculpture requires 9 pounds of direct materials at a...
Ornamental Sculptures Mfg. manufactures garden sculptures. Each sculpture requires 9 pounds of direct materials at a cost of $3 per pound and 0.4 direct labor hours at a rate of $14 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed manufacturing overhead is $4,600 per month. The company's policy is to maintain direct materials inventory equal to 30% of the next month's materials requirement. At the end of February the company had...
Ornamental Sculptures Mfg. manufactures garden sculptures. Each sculpture requires 7 pounds of direct materials at a co...
Ornamental Sculptures Mfg. manufactures garden sculptures. Each sculpture requires 7 pounds of direct materials at a cost of $3 per pound and 0.4 direct labor hours at a rate of $10 per hour. Variable manufacturing overhead is charged at a rate of $4 per direct labor hour. Fixed manufacturing overhead is $4,600 per month. The company's policy is to maintain direct materials inventory equal to 20% of the next month's materials requirement. At the end of February the company had...
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost...
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hours at a rate of $19 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed manufacturing overhead is $19,000 per month. The company's policy is to end each month with direct materials inventory equal to 40% of the next month's materials requirement. At the end of August the...
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost...
MCO Leather manufactures leather purses. Each purse requires 3
pounds of direct materials at a cost of $4 per pound and 0.7 direct
labor hours at a rate of $13 per hour. Variable manufacturing
overhead is charged at a rate of $3 per direct labor hour. Fixed
manufacturing overhead is $17,000 per month. The company’s policy
is to end each month with direct materials inventory equal to 20%
of the next month’s materials requirement. At the end of August the...
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost...
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost of $4 per pound and 07 direct labor hours at a rate of $12 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed manufacturing overhead is $18,000 per month. The company's policy is to end each month with direct materials inventory equal to 40% of the next month's materials requirement. At the end of August the...
MCO Leather Goods manufactures leather purses. Each purse requires 3 pounds of direct materials at a...
MCO Leather Goods manufactures leather purses.
Each purse requires 3 pounds of direct materials at a cost of $4
per pound and 0.7 direct labor hours at a rate of $17 per hour.
Variable manufacturing overhead is charged at a rate of $3 per
direct labor hour. Fixed manufacturing overhead is $20,000 per
month. The company’s policy is to end each month with direct
materials inventory equal to 30% of the next month’s materials
requirement. At the end of August...
MCO Leather Goods manufactures leather purses. Each purse requires 2 pounds of direct materials at a...
MCO Leather Goods manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hours at a rate of $19 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed manufacturing overhead is $16,000 per month. The company's policy is to end each month with direct materials inventory equal to 20% of the next month's materials requirement. At the end of August...
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost...
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost of $5 per pound and 0.7 direct labor hours at a rate of $18 per hour. Variable manufacturing overhead is charged at a rate of $2 per direct labor hour. Fixed manufacturing overhead is $10,000 per month. The company's policy is to end each month with direct materials inventory equal to 30% of the next month's materials requirement. At the end of August the...
HOW DO I CALCULATE? MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct...
HOW DO I CALCULATE?
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hours at a rate of $10 per hour. Variable manufacturing overhead is charged at a rate of $2 per direct labor hour. Fixed manufacturing overhead is $16,000 per month. The company's policy is to end each month with direct materials inventory equal to 20% of the next month's materials requirement. At the...
MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost...
MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $3 per pound and 0.7 direct te of $18 per hour. Variable manufacturing overhead is charged at a rate of $2 per direct labor hour. Fixed manufacturing overhead is $15,000 per month. The company's policy is to end each month with direct materials inventory equal to 30% of the next month's materials requirement. At the end of August the company had 3,080 pounds...
Ornamental Sculptures Mfg. manufactures garden sculptures. Each sculpture requires 9 pounds of direct materials at a cost of $3 per pound and 0.4 direct labor hours at a rate of $14 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed manufacturing overhead is $4,600 per month. The company's policy is to maintain direct materials inventory equal to 30% of the next month's materials requirement. At the end of February the company had...
Ornamental Sculptures Mfg. manufactures garden sculptures. Each sculpture requires 7 pounds of direct materials at a cost of $3 per pound and 0.4 direct labor hours at a rate of $10 per hour. Variable manufacturing overhead is charged at a rate of $4 per direct labor hour. Fixed manufacturing overhead is $4,600 per month. The company's policy is to maintain direct materials inventory equal to 20% of the next month's materials requirement. At the end of February the company had...
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hours at a rate of $19 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed manufacturing overhead is $19,000 per month. The company's policy is to end each month with direct materials inventory equal to 40% of the next month's materials requirement. At the end of August the...
MCO Leather manufactures leather purses. Each purse requires 3
pounds of direct materials at a cost of $4 per pound and 0.7 direct
labor hours at a rate of $13 per hour. Variable manufacturing
overhead is charged at a rate of $3 per direct labor hour. Fixed
manufacturing overhead is $17,000 per month. The company’s policy
is to end each month with direct materials inventory equal to 20%
of the next month’s materials requirement. At the end of August the...
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost of $4 per pound and 07 direct labor hours at a rate of $12 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed manufacturing overhead is $18,000 per month. The company's policy is to end each month with direct materials inventory equal to 40% of the next month's materials requirement. At the end of August the...
MCO Leather Goods manufactures leather purses.
Each purse requires 3 pounds of direct materials at a cost of $4
per pound and 0.7 direct labor hours at a rate of $17 per hour.
Variable manufacturing overhead is charged at a rate of $3 per
direct labor hour. Fixed manufacturing overhead is $20,000 per
month. The company’s policy is to end each month with direct
materials inventory equal to 30% of the next month’s materials
requirement. At the end of August...
MCO Leather Goods manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hours at a rate of $19 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed manufacturing overhead is $16,000 per month. The company's policy is to end each month with direct materials inventory equal to 20% of the next month's materials requirement. At the end of August...
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost of $5 per pound and 0.7 direct labor hours at a rate of $18 per hour. Variable manufacturing overhead is charged at a rate of $2 per direct labor hour. Fixed manufacturing overhead is $10,000 per month. The company's policy is to end each month with direct materials inventory equal to 30% of the next month's materials requirement. At the end of August the...
HOW DO I CALCULATE?
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hours at a rate of $10 per hour. Variable manufacturing overhead is charged at a rate of $2 per direct labor hour. Fixed manufacturing overhead is $16,000 per month. The company's policy is to end each month with direct materials inventory equal to 20% of the next month's materials requirement. At the...
MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $3 per pound and 0.7 direct te of $18 per hour. Variable manufacturing overhead is charged at a rate of $2 per direct labor hour. Fixed manufacturing overhead is $15,000 per month. The company's policy is to end each month with direct materials inventory equal to 30% of the next month's materials requirement. At the end of August the company had 3,080 pounds...
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