Homework Answers
Solution
| ORNAMENTAL SCULPTURES MFG. | ||
| Direct Materials Budget | ||
| For the Months of September and October | ||
| March | April | |
| Budgeted production (units) | 4200 | 5400 |
| Materials requirements per unit (lbs.) | 7 | 7 |
| Materials needed for production (lbs.) | 29400 | 37800 |
| Budgeted ending inventory (lbs.) | 7560 | 6860* |
| Total materials requirements (lbs.) | 36960 | 44660 |
| Budgeted beginning inventory (lbs.) | 5880 | 7560 |
| Materials to be purchased (lbs.) | 31080 | 37100 |
| Direct material cost per lb. | $ 3.00 | $ 3.00 |
| Total budgeted direct materials | $ 93,240.00 | $ 111,300.00 |
*4900 x 7 x 20%
.
| ORNAMENTAL SCULPTURES MFG. | ||
| Direct Labor Budget | ||
| For the Months of September and October | ||
| March | April | |
| Budgeted production (units) | 4200 | 5400 |
| DL hours required per unit | 0.4 | 0.4 |
| Total direct labor hours needed | 1680 | 2160 |
| Direct labor rate per hour | $ 10.00 | $ 10.00 |
| Total budgeted direct labor | $ 16,800.00 | $ 21,600.00 |
.
| ORNAMENTAL SCULPTURES MFG. | ||
| Factory Overhead Budget | ||
| For the Months of September and October | ||
| March | April | |
| Total direct labor hours needed | 1680 | 2160 |
| VOH rate per DL hour | $ 4.00 | $ 4.00 |
| Budgeted variable overhead | $ 6,720.00 | $ 8,640.00 |
| Budgeted fixed overhead | $ 4,600.00 | $ 4,600.00 |
| Total budgeted factory overhead | $ 11,320.00 | $ 13,240.00 |
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Ornamental Sculptures Mfg. manufactures garden sculptures. Each sculpture requires 7 pounds of direct materials at a co...
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Ornamental Sculptures Mfg. manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a...
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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 $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...
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 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 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...
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 8 pounds of direct materials at a cost of $2 per pound and 0.4 direct labor hours at a rate of $14 per hour. Variable manufacturing overhead is charged at a rate of $2 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 $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...
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 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 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...
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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