Magnolia Candle Inc. budgeted production of 74,200 candles in 20Y4. Each candle requires molding. Assume that 12 minutes...
Magnolia Candle Inc. budgeted production of 74,200 candles in 20Y4. Each candle requires molding. Assume that 12 minutes are required to mold each candle.
If molding labor costs $14.00 per hour, determine the direct labor cost budget for 20Y4. Round your interim calculations to nearest cent, if required.
Homework Answers
Direct labor cost for 2014 = 74,200 candles * 12 minutes per candle / 60 minutes * $14 per hour
= $207,760
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Magnolia Candle Inc. budgeted production of 74,200 candles in 20Y4. Each candle requires molding. Assume that 12 minutes...
Magnolia Candle Inc. budgeted production of 74,200 candles in 20Y4. Wax is required to produce a candle. Assume that eig...
Magnolia Candle Inc. budgeted production of 74,200 candles in
20Y4. Wax is required to produce a candle. Assume that eight ounces
(one-half of a pound) of wax is required for each candle. The
estimated January 1, 20Y4, wax inventory is 2,500 pounds. The
desired December 31, 20Y4, wax inventory is 2,100 pounds. Candle
wax costs $4.10 per pound.
Each candle requires molding. Assume that 12 minutes are
required to mold each candle. Molding labor costs $14.00 per
hour.
Prepare a...
Magnolia Candle Inc. budgeted production of 74,200 candles in 20Y4. Wax is required to produce a candle. Assume that eig...
Magnolia Candle Inc. budgeted production of 74,200 candles in 20Y4. Wax is required to produce a candle. Assume that eight ounces (one-half of a pound) of wax is required for each candle. The estimated January 1, 20Y4, wax inventory is 2,500 pounds. The desired December 31, 20Y4, wax inventory is 2,100 pounds. If candle wax costs $4.10 per pound, determine the direct materials purchases budget for 20Y4.
Direct Labor Cost Budget Pasadena Candle Inc. budgeted production of 36,000 candles for the year Each...
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Pasadena Candle Inc. budgeted production of 785,000 candles for January. Each candle requires molding. Assume that...
Pasadena Candle Inc. budgeted production of 785,000 candles for January. Each candle requires molding. Assume that six minutes are required to mold each candle. If molding labor costs $18 per hour, determine the direct labor cost budget for January. Wax is required to produce a candle. Assume 487,125 pounds of material will be purchased during January. The candle wax costs $1.24 per pound. Prepare a cost of goods sold budget for Pasadena Candle Inc. using the information above. Assume the...
Cost of goods sold budget Pasadena Candle Inc. budgeted production of 785,000 candles for the year....
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Magnolia Candle Inc. budgeted production of 74,200 candles in
20Y4. Wax is required to produce a candle. Assume that eight ounces
(one-half of a pound) of wax is required for each candle. The
estimated January 1, 20Y4, wax inventory is 2,500 pounds. The
desired December 31, 20Y4, wax inventory is 2,100 pounds. Candle
wax costs $4.10 per pound.
Each candle requires molding. Assume that 12 minutes are
required to mold each candle. Molding labor costs $14.00 per
hour.
Prepare a...
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Instructions Cost of Goods Sold Budget Instructions Cost of Goods Sold Budget Magnolia Candle Inc. budgeted production of 74,200 candles in 2016. Wax is required to produce a candle. Assume eight ounces (one half of a pound) of wax is required for each candle. The estimated January 1, 2016, wax inventory is 2,500 pounds. The desired December 31, 2016, wax inventory is 2,100 pounds. Candle wax costs $4.10 per pound. Each candle requires molding. Assume that 12 minutes are required...
Direct Labor Cost Budget Pasadena Candle Inc. budgeted production of 785,000 candles for the year. Each candle requires molding. Assume that six minutes are required to mold each candle. If molding labor costs $18 per hour, determine the direct labor cost budget for the year. Pasadena Candle Inc. Direct Labor Cost Budget For the Year Ending December 31 Hours required for assembly: Candles min. Convert minutes to hours min. Molding hours hrs. Hourly rate Total direct labor cost
Pasadena Candle Inc. budgeted production of 785,000 candles for January. Each candle requires molding. Assume that six minutes are required to mold each candle. If molding labor costs $18 per hour, determine the direct labor cost budget for January. Wax is required to produce a candle. Assume 487,125 pounds of material will be purchased during January. The candle wax costs $1.24 per pound. Prepare a cost of goods sold budget for Pasadena Candle Inc. using the information above. Assume the...
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