Power Inc. is a manufacturing company. It manufactures 2 products, known as ‘A’ and ‘B’. The following information is gi...
Power Inc. is a manufacturing company. It manufactures 2 products, known as ‘A’ and ‘B’. The following information is given for the year 2019: -
The standard direct materials and direct labor used for each product is as follows:
‘A’ ‘B’
Material 1 10 units 8 units
Material 2 5 units 9 units
Direct Labor 10 hours 15 hours
Standard direct materials and direct labor costs:
(USD)
Material 1 8.20 per unit
Material 2 17.00 per unit
Direct Labor 14.00 per hour
Other important data is as follows for the year 2019:
Direct materials
Material 1 Material 2
Opening inventory (units) 9,000 8,500
Closing inventory required (units) 10,000 2,000
Finished products
‘A’ ‘B’
Forecast sales (units) 8,500 1,600
Selling price per unit USD500 USD660
Ending inventory required (units) 2,000 100
Beginning inventory (units) 200 90
Question: Prepare the following budgets for the year 2019: -
Sales budget , Production budget , Direct material usage budget , Direct material (purchase budget) , Direct labor budget
I have the mapped out the answers but just want to verify whether my answer is correct coz i would like to ensure my understanding of this subject is accurate.
Homework Answers
working note :
Add Answer to:
Power Inc. is a manufacturing company. It manufactures 2 products, known as ‘A’ and ‘B’. The following information is gi...
Sunshine Co. Ltd. is a manufacturing company. It manufactures 2 products, known as ‘A’ and ‘Z’....
Sunshine Co. Ltd. is a manufacturing company. It manufactures 2 products, known as ‘A’ and ‘Z’. The following information is given for the year 2017: - The standard direct materials and direct labour used for each product is as follows: ‘A’ ‘Z’ Material 1 10 units 8 units Material 2 5 units 9 units Direct Labour 10 hours 15 hours Standard direct materials and direct labour costs: ($) Material 1 8.20 per unit Material 2 17.00 per unit Direct Labour...
I would like to cross check my answer to the following question which i did to...
I would like to cross check my answer to the following question which i did to enhance my understanding: Power Inc. is a manufacturing company. It manufactures 2 products, known as ‘A’ and ‘B’. The following information is given for the year 2019: - The standard direct materials and direct labor used for each product is as follows: ‘A’ ‘B’ Material 1 10 units 8 units Material 2 5 units 9 units Direct Labor 10 hours ...
Required Information The following Information applies to the questions displayed below.) Preble Company manufactures one product....
Required Information The following Information applies to the questions displayed below.) Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 5 pounds at $10.00 per pound Direct labor: 4 hours at $16 per hour Variable overhead: 4 hours at $7 per hour Total standard variable cost per unit $50.00 64.00 20.00 $142.00 The company also established the following cost formulas...
Required information [The following Information applies to the questions displayed below.) Preble Company manufactures one product....
Required information [The following Information applies to the questions displayed below.) Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 5 pounds at $10.00 per pound Direct labor: 4 hours at $16 per hour Variable overhead: 4 hours at $7 per hour Total standard variable cost per unit $50.00 64.00 28.00 $142.00 The company also established the following cost formulas...
Required Information The following Information applies to the questions displayed below.] Preble Company manufactures one product....
Required Information The following Information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 5 pounds at $10.00 per pound Direct labor: 4 hours at $16 per hour Variable overhead: 4 hours at $7 per hour Total standard variable cost per unit $ 50.00 64.00 20.00 $142.00 The company also established the following cost...
Required information /The following Information applies to the questions displayed below.] Preble Company manufactures one product....
Required information /The following Information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 5 pounds at $10.00 per pound Direct labor: 4 hours at $16 per hour Variable overhead: 4 hours at $7 per hour Total standard variable cost per unit $ 50.00 64.00 28.00 $142.00 The company also established the following cost...
Required information The following Information applies to the questions displayed below.] Preble Company manufactures one product....
Required information The following Information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 5 pounds at $10.00 per pound Direct labor: 4 hours at $16 per hour Variable overhead: 4 hours at $7 per hour Total standard variable cost per unit $ 50.00 64.00 28.00 $142.00 The company also established the following cost...
Required information [The following information applies to the questions displayed below) Preble Company manufactures one product....
Required information [The following information applies to the questions displayed below) Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 5 pounds at $10.00 per pound Direct labor: 4 hours at $16 per hour Variable overhead: 4 hours at $7 per hour Total standard variable cost per unit $ 50.00 64.00 28.00 $142.00 The company also established the following cost...
Variance Analysis P 9 - B Asparagus Company manufactures a product known as Stinkweed. 4 Budget...
Variance Analysis P 9 - B Asparagus Company manufactures a product known as Stinkweed. 4 Budget Actual Difference Net Income $12,000 $36,900 $24,900 F = sum of six variances Standard Cost Card (budget for one unit) Standard Standard Quantity Price Standard or Hours or Rate Cost Direct Materials 3.0 pounds х $ 8 $ 24.00 Direct labor 2.0 labor hours х 18 36.00 Variable overhead 0.5 machine hours X 2.00 Total standard cost per unit $ 62.00 The following actual...
(b) Easecom Company manufactures and sells two products: Thingone and Thingtwo. The company is now planning the raw mat...
(b) Easecom Company manufactures and sells two products: Thingone and Thingtwo. The company is now planning the raw material requirements of the two products for 2019. To produce the two products the following raw material is required: Direct material Cost per kg Amount used per unit Thingone Thingtwo 5 kilograms 2 kilograms 3 kilograms $8.2 per kilogram $7.5 per kilogram B To keep production smooth, the company has the following inventory requirements: The finished goods inventories (in units): Finished goods...
Required Information The following Information applies to the questions displayed below.) Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 5 pounds at $10.00 per pound Direct labor: 4 hours at $16 per hour Variable overhead: 4 hours at $7 per hour Total standard variable cost per unit $50.00 64.00 20.00 $142.00 The company also established the following cost formulas...
Required information [The following Information applies to the questions displayed below.) Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 5 pounds at $10.00 per pound Direct labor: 4 hours at $16 per hour Variable overhead: 4 hours at $7 per hour Total standard variable cost per unit $50.00 64.00 28.00 $142.00 The company also established the following cost formulas...
Required Information The following Information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 5 pounds at $10.00 per pound Direct labor: 4 hours at $16 per hour Variable overhead: 4 hours at $7 per hour Total standard variable cost per unit $ 50.00 64.00 20.00 $142.00 The company also established the following cost...
Required information /The following Information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 5 pounds at $10.00 per pound Direct labor: 4 hours at $16 per hour Variable overhead: 4 hours at $7 per hour Total standard variable cost per unit $ 50.00 64.00 28.00 $142.00 The company also established the following cost...
Required information The following Information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 5 pounds at $10.00 per pound Direct labor: 4 hours at $16 per hour Variable overhead: 4 hours at $7 per hour Total standard variable cost per unit $ 50.00 64.00 28.00 $142.00 The company also established the following cost...
Required information [The following information applies to the questions displayed below) Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 5 pounds at $10.00 per pound Direct labor: 4 hours at $16 per hour Variable overhead: 4 hours at $7 per hour Total standard variable cost per unit $ 50.00 64.00 28.00 $142.00 The company also established the following cost...
Variance Analysis P 9 - B Asparagus Company manufactures a product known as Stinkweed. 4 Budget Actual Difference Net Income $12,000 $36,900 $24,900 F = sum of six variances Standard Cost Card (budget for one unit) Standard Standard Quantity Price Standard or Hours or Rate Cost Direct Materials 3.0 pounds х $ 8 $ 24.00 Direct labor 2.0 labor hours х 18 36.00 Variable overhead 0.5 machine hours X 2.00 Total standard cost per unit $ 62.00 The following actual...
(b) Easecom Company manufactures and sells two products: Thingone and Thingtwo. The company is now planning the raw material requirements of the two products for 2019. To produce the two products the following raw material is required: Direct material Cost per kg Amount used per unit Thingone Thingtwo 5 kilograms 2 kilograms 3 kilograms $8.2 per kilogram $7.5 per kilogram B To keep production smooth, the company has the following inventory requirements: The finished goods inventories (in units): Finished goods...
Most questions answered within 3 hours.
-
what is IoT? How is it being used today? How will it be used in
the...
asked 59 seconds ago -
Please answer the four questions below.
1. If you were going to test a method that...
asked 15 minutes ago -
Provide two or three examples of support he uses to reinforce
his arguments?
The Alienation of...
asked 23 minutes ago -
QUESTION 1
Why do we see terms with multiple names in the database
community?
Consistency is...
asked 18 minutes ago -
In a titration experiment, 11.5 mL of 0.400 M H2SO4 neutralized
48.0 mL of NaOH. What...
asked 22 minutes ago -
A shot-putter throws the shot with a horizontal velocity of 10
m/s and a
vertical velocity...
asked 38 minutes ago -
Mildred sells industrial-sized refrigeration units. Her
prospective buyer's face looks tense, and his forehead is wrinkled....
asked 39 minutes ago -
Clark Heter is an industrial engineer at Lyons Products. He
would like to determine whether there...
asked 1 hour ago -
3. Use a text editor to create a comma-delimited file of user
IDs and passwords. Revise...
asked 1 hour ago -
Jensen and Associates has a projected balance
sheet that includes the following accounts. What is the...
asked 55 minutes ago -
implement a doubly-linked list in C. Each node in the linked list should contain a string,...
asked 1 hour ago -
What are some best practices and things to avoid when developing
a PowerPoint presentation or file
asked 1 hour ago