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Case 2 A Saudi Company produces men's ties. The following budgeted and actual amounts are for...
2. Point, Inc. produces men's shirts. The following budgeted and actual amounts are for 2018: Cost...
2. Point, Inc. produces men's shirts. The following budgeted and actual amounts are for 2018: Cost Direct materials Direct labor Fixed overhead Budgeted Amounts at 2.500 units Actual Amounts at 2.900 units $55,000 $65,000 $80,000 $83,000 $30,000 $34,500 Prepare a responsibility report for Point, Inc. for the year. POINT, INC. Manufacturing Performance Responsibility Report For the Year Ended December 31, 2018 Budget (2,900 units) Differences Direct Materials Direct Labor Fixed Overhead Total costs Actual $65,000 $83,000 $34,500 3. The service...
Case (3) Data concerning manufacturing overhead for a Saudi Company are presented below. The Mixing Department...
Case (3) Data concerning manufacturing overhead for a Saudi Company are presented below. The Mixing Department is a cost center. An analysis of the overhead costs reveals that all variable costs are controllable by the manager of the Mixing Department and that 50% of supervisory costs are controllable at the department level. The flexible budget formula and the cost and activity for the months of July and Augustre as follows Flexible Budget Per Actual Costs and Activity Direct Labor Hour...
Case (3) Data concerning manufacturing overhead for a Saudi Company are presented below. The Mixing Department...
Case (3) Data concerning manufacturing overhead for a Saudi Company are presented below. The Mixing Department is a cost center. An analysis of the overhead costs reveals that all variable costs are controllable by the manager of the Mixing Department and that 50% of supervisory costs are controllable at the department level. The flexible budget formula and the cost and activity for the months of July and August are as follows Flexible Budget Per Direct Labor Hour Actual Costs and...
Performance Report Based on Budgeted and Actual Levels of Production Bowling Company budgeted the following amounts:...
Performance Report Based on Budgeted and Actual Levels of Production Bowling Company budgeted the following amounts: Variable costs of production: Direct materials 3 pounds @ $0.60 per pound Direct labor 0.5 hr. @ $16.00 per hour VOH 0.5 hr. @ $2.20 FOH: Materials handling $6,200 Depreciation $2,600 At the end of the year, Bowling had the following actual costs for production of 3,800 units: Direct materials $6,800 Direct labor 30,500 VOH 4,200 FOH: Materials handling 6,300 Depreciation $2,600 Required: 1....
CALCUL In the Assembly Department of Hannon Company, budgeted and actual manufacturing overhead costs for the...
CALCUL In the Assembly Department of Hannon Company, budgeted and actual manufacturing overhead costs for the month of April 2020 were as follows. Actual Indirect materials Indirect labor Utilities Supervision Budget $15,300 19,800 10,100 5,800 $14,700 20,300 10,900 5,800 All costs are controllable by the department manager. Prepare a responsibility report for April for the cost center. HANNON COMPANY Assembly Department Manufacturing Overhead Cost Responsibility Report For the Month Ended April 30, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable...
Direct Materials and Direct Labor Variances At the beginning of June, Kimber Toy Company budgeted 12,000...
Direct Materials and Direct Labor Variances At the beginning of June, Kimber Toy Company budgeted 12,000 toy action figures to be manufactured in June at standard direct materials and direct labor costs as follows: Direct materials Direct labor $18,000 11,760 $29,760 Total The standard materials price is $0.60 per pound. The standard direct labor rate is $14.00 per hour. At the end of June, the actual direct materials and direct labor costs were as follows: Actual direct materials $16,400 Actual...
In the Assembly Department of Hannon Company, budgeted and actual manufacturing overhead costs for the month of April 2...
In the Assembly Department of Hannon Company, budgeted and actual manufacturing overhead costs for the month of April 2020 were as follows. Actual Indirect materials Indirect labor Utilities Supervision Budget $14,700 20,900 11,000 4,600 $13,900 21,400 11,800 4,600 All costs are controllable by the department manager. Prepare a responsibility report for April for the cost center. HANNON COMPANY Assembly Department Manufacturing Overhead Cost Responsibility Report For the Month Ended April 30, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Controllable...
please provide an explanation. thank you Budgeted Costs The budget was to manufacture and sell 6,200...
please provide an explanation. thank you
Budgeted Costs The budget was to manufacture and sell 6,200 units Direct Materials: 4 pounds per unit @ $2.00 per pound Direct Labor: 1.5 hours per units @ $15 per hour The company sold 5,000 units and had the following costs: Direct Materials: 19,500 pounds that cost $41480 Direct Labor 8.000 hours that cost $118.900 9. Actual Cost of Direct Labor 10. Flexible Budget for Direct Labor 11. Flexible Budget Variance for Direct Labor...
Bumblebee Company estimates that 366,700 direct labor hours will be worked during the coming year, 2017,...
Bumblebee Company estimates that 366,700 direct labor hours will be worked during the coming year, 2017, in the Packaging Department. On this basis, the budgeted manufacturing overhead cost data are computed for the year. Fixed Overhead Costs Supervision Depreciation Insurance Rent Property taxes $90,000 75,240 31,320 27,000 13,200 $236,760 Variable Overhead Costs Indirect labor $168,682 Indirect materials 102,676 Repairs 73,340 Utilities 55,005 Lubricants 18,335 $418,038 It is estimated that direct labor hours worked each month will range from 29,200 to...
Brief Exercise 10-6 In the Assembly Department of Hannon Company, budgeted and actual manufacturing overhead costs...
Brief Exercise 10-6 In the Assembly Department of Hannon Company, budgeted and actual manufacturing overhead costs for the month of April 2020 were as follows. Indirect materials Indirect labor Utilities Supervision Budget $14,500 21,400 11,900 5,000 Actual $13,600 22,200 12,600 5,000 All costs are controllable by the department manager. Prepare a responsibility report for April for the cost center. HANNON COMPANY Assembly Department Manufacturing Overhead Cost Responsibility Report For the Month Ended April 30, 2020 Difference Favorable Unfavorable Neither Favorable...
2. Point, Inc. produces men's shirts. The following budgeted and actual amounts are for 2018: Cost Direct materials Direct labor Fixed overhead Budgeted Amounts at 2.500 units Actual Amounts at 2.900 units $55,000 $65,000 $80,000 $83,000 $30,000 $34,500 Prepare a responsibility report for Point, Inc. for the year. POINT, INC. Manufacturing Performance Responsibility Report For the Year Ended December 31, 2018 Budget (2,900 units) Differences Direct Materials Direct Labor Fixed Overhead Total costs Actual $65,000 $83,000 $34,500 3. The service...
Case (3) Data concerning manufacturing overhead for a Saudi Company are presented below. The Mixing Department is a cost center. An analysis of the overhead costs reveals that all variable costs are controllable by the manager of the Mixing Department and that 50% of supervisory costs are controllable at the department level. The flexible budget formula and the cost and activity for the months of July and Augustre as follows Flexible Budget Per Actual Costs and Activity Direct Labor Hour...
CALCUL In the Assembly Department of Hannon Company, budgeted and actual manufacturing overhead costs for the month of April 2020 were as follows. Actual Indirect materials Indirect labor Utilities Supervision Budget $15,300 19,800 10,100 5,800 $14,700 20,300 10,900 5,800 All costs are controllable by the department manager. Prepare a responsibility report for April for the cost center. HANNON COMPANY Assembly Department Manufacturing Overhead Cost Responsibility Report For the Month Ended April 30, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable...
Direct Materials and Direct Labor Variances At the beginning of June, Kimber Toy Company budgeted 12,000 toy action figures to be manufactured in June at standard direct materials and direct labor costs as follows: Direct materials Direct labor $18,000 11,760 $29,760 Total The standard materials price is $0.60 per pound. The standard direct labor rate is $14.00 per hour. At the end of June, the actual direct materials and direct labor costs were as follows: Actual direct materials $16,400 Actual...
In the Assembly Department of Hannon Company, budgeted and actual manufacturing overhead costs for the month of April 2020 were as follows. Actual Indirect materials Indirect labor Utilities Supervision Budget $14,700 20,900 11,000 4,600 $13,900 21,400 11,800 4,600 All costs are controllable by the department manager. Prepare a responsibility report for April for the cost center. HANNON COMPANY Assembly Department Manufacturing Overhead Cost Responsibility Report For the Month Ended April 30, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Controllable...
please provide an explanation. thank you
Budgeted Costs The budget was to manufacture and sell 6,200 units Direct Materials: 4 pounds per unit @ $2.00 per pound Direct Labor: 1.5 hours per units @ $15 per hour The company sold 5,000 units and had the following costs: Direct Materials: 19,500 pounds that cost $41480 Direct Labor 8.000 hours that cost $118.900 9. Actual Cost of Direct Labor 10. Flexible Budget for Direct Labor 11. Flexible Budget Variance for Direct Labor...
Bumblebee Company estimates that 366,700 direct labor hours will be worked during the coming year, 2017, in the Packaging Department. On this basis, the budgeted manufacturing overhead cost data are computed for the year. Fixed Overhead Costs Supervision Depreciation Insurance Rent Property taxes $90,000 75,240 31,320 27,000 13,200 $236,760 Variable Overhead Costs Indirect labor $168,682 Indirect materials 102,676 Repairs 73,340 Utilities 55,005 Lubricants 18,335 $418,038 It is estimated that direct labor hours worked each month will range from 29,200 to...
Brief Exercise 10-6 In the Assembly Department of Hannon Company, budgeted and actual manufacturing overhead costs for the month of April 2020 were as follows. Indirect materials Indirect labor Utilities Supervision Budget $14,500 21,400 11,900 5,000 Actual $13,600 22,200 12,600 5,000 All costs are controllable by the department manager. Prepare a responsibility report for April for the cost center. HANNON COMPANY Assembly Department Manufacturing Overhead Cost Responsibility Report For the Month Ended April 30, 2020 Difference Favorable Unfavorable Neither Favorable...
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