Morganton Company makes one product and it provided the following information to help prepare the master budget: The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 8,700, 18,000, 20,000, and 21,000 units, respectively. All sales are on credit. Forty percent of credit sales are collected in the month of the sale...
Ace Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for July for the two rackets is as follows: Junior Pro Striker Production budget 8,800 units 23,200 units Both rackets are produced in two departments, Forming and Assembly. The direct labor hours required for each racket are estimated as follows: Forming Department...
Additional Information: Jobs 12 – 15 were completed this quarter. Job 16 was started but not completed this quarter. Jobs 12 – 14 have been delivered to the customers. Job 12 was in process at the beginning of the quarter and was included in last year’s inventory at a cost of $169,000 as shown above. Round to the nearest dollar...
Forrest River Medical Supply Products Corp. Cost of Goods Manufactured Raw Material (January 1) 5 Purchases 6 Raw Material Available 7 Raw Material (January 31) 8 Raw Material Used 9 Direct Labor 10 Overhead: 11 Depr. Factory Equipment 12 Repairs/Maintenance-Factory 13 Indirect Labor 14 Insurance-Factory 15 Indirect Materials 16 Total Overhead 17 Total Manufacturing Costs 18 Work in Process (January...
ALL/4U20272Ulvilestone 7ozu ihree X then , and drag to the Favorites Bar folder. Or import from another browser. Import favorites - + Fit to page D Page view A Read aloud l Add notes Overview: In the third milestone, you will jump forward in time: Imagine that your business has already opened. Use the updated scenario information to analyze your...
please help and show work Saddle Inc. has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based on direct labor costs. The president has heard of activity-based costing and wants to see how the results would differ if this system were used. Two activity cost pools were developed: machining and machine...
please help and show work Saddle Inc. has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based on direct labor costs. The president has heard of activity-based costing and wants to see how the results would differ if this system were used. Two activity cost pools were developed: machining and machine...
XYZ Manufacturing, Inc. provided the following information for the year: Purchases—Raw Materials $90,000 Plant Utilities and Insurance 68,000 Indirect Materials 11,740 Indirect Labor 4,050 Direct Materials Used in Production 99,000 Direct Labor 117,000 Depreciation on Factory Plant & Equipment 5,000 The inventory account balances as of January 1 are given below. Raw Materials Inventory $44,000 Work-in-Progress Inventory 11,000 Finished Goods...
XYZ Manufacturing, Inc. provided the following information for the year: Purchases—Raw Materials $90,000 Plant Utilities and Insurance 68,000 Indirect Materials 11,740 Indirect Labor 4,050 Direct Materials Used in Production 99,000 Direct Labor 117,000 Depreciation on Factory Plant & Equipment 5,000 The inventory account balances as of January 1 are given below. Raw Materials Inventory $44,000 Work-in-Progress Inventory 11,000 Finished Goods...
Old School Publishing Inc. began printing operations on January 1. Jobs 301 and 302 were completed during the month, and all costs applicable to them were recorded on the related cost sheets. Jobs 303 and 304 are still in process at the end of the month, and all applicable costs except factory overhead have been recorded on the related cost...