Homework Answers
| 1) | ||
| ADDISON CO., | ||
| Direct Labor Budget | ||
| Second Quarter | ||
| Units to be produced (a) | 2,850 | units |
| Each unit requires direct labor hours (b) | 6 | hours |
| Total labor hours needed (c = a*b) | 17,100 | hours |
| Cost per direct labor hour (d) | $9 | per hour |
| Budgeted direct labor cost (c*d) | $153,900 | |
| 2) | ||
| ADDISON CO., | ||
| Factory Overhead Budget | ||
| Second Quarter | ||
| Total labor hours needed (a) | 17,100 | |
| Variable overhead rate per hour (b) | $11 | |
| Budgeted variable overhead (c = a*b) | $188,100 | |
| Budgeted fixed overhead (d) | $640,000 | |
| Budgeted total overhead (a+b) | $828,100 | |
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Addison Co. budgets production of 2,850 units during the second quartel. UUTUU Direct labor Variable overhead Fixe...
Exercise 07-7 Manufacturing: Direct labor and factory overhead budgets LO P1 Addison Co. budgets production of...
Exercise 07-7 Manufacturing: Direct labor and factory overhead budgets LO P1 Addison Co. budgets production of 2,850 units during the second quarter. Other information is as follows: Direct labor Variable overhead Fixed overhead Each finished unit requires 6 direct labor hours, at a cost of $9 per hour. Applied at the rate of $11 per direct labor hour. Budgeted at $640,000 per quarter. 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget. Complete this question by entering...
Addison Co. budgets production of 2,400 units during the second quarter. Other information is as follows:...
Addison Co. budgets production of 2,400 units during the second quarter. Other information is as follows: Direct labor Variable overhead Fixed overhead Each finished unit requires 4 direct labor hours, at a cost of $20 per hour. Applied at the rate of $11 per direct labor hour. Budgeted at $450,000 per quarter. 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare...
Exercise 07-7 Manufacturing: Direct labor and factory overhead budgets LO P1 Addison Co budgets production of...
Exercise 07-7 Manufacturing: Direct labor and factory overhead budgets LO P1 Addison Co budgets production of 2.770 units during the second quarter. Other information is as follows: cost of $9 per hour. Direct labor Variable overhead Fixed overhead Each finished unit requires 4 direct labor hours at Applied at the rate of $11 per direct labor hour. Budgeted at $560,000 per quarter. 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget Complete this question by entering your...
Addison Co. budgets production of 2.790 units during the second quarter. Other information is as follows:...
Addison Co. budgets production of 2.790 units during the second quarter. Other information is as follows: Each finished unit requires s direct labor hours, at a cost of $10 per hour. Direct labor Variable overhead Applied at the rate of $12 per direct labor hour. Budgeted at $580,000 per quarter Fixed overhead oed 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget. Dook Hint Complete this question by entering your answers in the tabs below. Ack Print...
Check my work 2 Exercise 20-15 Manufacturing: Direct materials, direct labor, and overhead budgets LO P1...
Check my work 2 Exercise 20-15 Manufacturing: Direct materials, direct labor, and overhead budgets LO P1 10 points 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 $15 per hour. Variable manufacturing overhead is charged at a rate of $2 per direct labor hour. Fixed manufacturing overhead is $14,000 per month. The company's policy is to end each month with...
Exercise 20-15 Manufacturing: Direct materials, direct labor, and overhead budgets LO P1 MCO Leather Goods manufactures...
Exercise 20-15 Manufacturing: Direct materials, direct labor, and overhead budgets LO P1 MCO Leather Goods manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $5 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 $18,000 per month. The company's policy is to end each month with direct materials inventory equal to...
Required information Ramos Co. provides the following sales forecast and production budget for the next four mont...
Required information Ramos Co. provides the following sales forecast and production budget for the next four months: July April May 670 June Sales (units) Budgeted production (units) 590 620 690 530 660 630 630 The company plans for finished goods inventory of 210 units at the end of June. In addition, each finished unit requires 5 pounds of direct materials and the company wants to end each month with direct materials inventory equal to 30 % of next month's production...
The company plans for finished goods inventory of 220 units at the end of June. In...
The company plans for finished goods inventory of 220 units at
the end of June. In addition, each finished unit requires 5 pounds
of direct materials and the company wants to end each month with
direct materials inventory equal to 20% of next month’s production
needs. Beginning direct materials inventory for April was 540
pounds. Direct materials cost $2 per pound. Each finished unit
requires 0.60 hours of direct labor at the rate of $12 per hour.
The company budgets...
E8-22 (Static) Preparing the Direct Labor and Manufacturing Overhead Budgets [LO 8-3d, e Galactic Inc. manufactures...
E8-22 (Static) Preparing the Direct Labor and Manufacturing Overhead Budgets [LO 8-3d, e Galactic Inc. manufactures flying drone toys. Budgeted Production units for January, February, and March were 295, 298, and 342, respectively. Each unit requires 3 direct labor hours and Galactic's hourly labor rate is $15 per hour. The company's variable overhead is $4.00 per unlt produced and Its fixed overhead is $5,500 per month. Required: 1. Determine the Galactic's direct labor budget for the first quarter. 2. Determine...
please answer all the required ones #1-3b direct labor rate: $18 per hour direct material cost:...
please answer all the required ones #1-3b
direct labor rate: $18 per hour
direct material cost: $3 per pound
Variable overhead rate (based on direct labor hours): $25 per
direct labor hour
Check my work Delray Manufacturing needs to better budget and analyze costs. While Delray has experienced high sales growth, it has struggled to effectively manage costs and inventories. Delray aims to end each month with direct materials inventory equal to 40% of next month's production needs. Each finished...
Exercise 07-7 Manufacturing: Direct labor and factory overhead budgets LO P1 Addison Co. budgets production of 2,850 units during the second quarter. Other information is as follows: Direct labor Variable overhead Fixed overhead Each finished unit requires 6 direct labor hours, at a cost of $9 per hour. Applied at the rate of $11 per direct labor hour. Budgeted at $640,000 per quarter. 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget. Complete this question by entering...
Addison Co. budgets production of 2,400 units during the second quarter. Other information is as follows: Direct labor Variable overhead Fixed overhead Each finished unit requires 4 direct labor hours, at a cost of $20 per hour. Applied at the rate of $11 per direct labor hour. Budgeted at $450,000 per quarter. 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare...
Exercise 07-7 Manufacturing: Direct labor and factory overhead budgets LO P1 Addison Co budgets production of 2.770 units during the second quarter. Other information is as follows: cost of $9 per hour. Direct labor Variable overhead Fixed overhead Each finished unit requires 4 direct labor hours at Applied at the rate of $11 per direct labor hour. Budgeted at $560,000 per quarter. 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget Complete this question by entering your...
Addison Co. budgets production of 2.790 units during the second quarter. Other information is as follows: Each finished unit requires s direct labor hours, at a cost of $10 per hour. Direct labor Variable overhead Applied at the rate of $12 per direct labor hour. Budgeted at $580,000 per quarter Fixed overhead oed 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget. Dook Hint Complete this question by entering your answers in the tabs below. Ack Print...
Check my work 2 Exercise 20-15 Manufacturing: Direct materials, direct labor, and overhead budgets LO P1 10 points 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 $15 per hour. Variable manufacturing overhead is charged at a rate of $2 per direct labor hour. Fixed manufacturing overhead is $14,000 per month. The company's policy is to end each month with...
Exercise 20-15 Manufacturing: Direct materials, direct labor, and overhead budgets LO P1 MCO Leather Goods manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $5 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 $18,000 per month. The company's policy is to end each month with direct materials inventory equal to...
Required information Ramos Co. provides the following sales forecast and production budget for the next four months: July April May 670 June Sales (units) Budgeted production (units) 590 620 690 530 660 630 630 The company plans for finished goods inventory of 210 units at the end of June. In addition, each finished unit requires 5 pounds of direct materials and the company wants to end each month with direct materials inventory equal to 30 % of next month's production...
The company plans for finished goods inventory of 220 units at
the end of June. In addition, each finished unit requires 5 pounds
of direct materials and the company wants to end each month with
direct materials inventory equal to 20% of next month’s production
needs. Beginning direct materials inventory for April was 540
pounds. Direct materials cost $2 per pound. Each finished unit
requires 0.60 hours of direct labor at the rate of $12 per hour.
The company budgets...
E8-22 (Static) Preparing the Direct Labor and Manufacturing Overhead Budgets [LO 8-3d, e Galactic Inc. manufactures flying drone toys. Budgeted Production units for January, February, and March were 295, 298, and 342, respectively. Each unit requires 3 direct labor hours and Galactic's hourly labor rate is $15 per hour. The company's variable overhead is $4.00 per unlt produced and Its fixed overhead is $5,500 per month. Required: 1. Determine the Galactic's direct labor budget for the first quarter. 2. Determine...
please answer all the required ones #1-3b
direct labor rate: $18 per hour
direct material cost: $3 per pound
Variable overhead rate (based on direct labor hours): $25 per
direct labor hour
Check my work Delray Manufacturing needs to better budget and analyze costs. While Delray has experienced high sales growth, it has struggled to effectively manage costs and inventories. Delray aims to end each month with direct materials inventory equal to 40% of next month's production needs. Each finished...
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