Iota Inc. prepared its static budget for producing 10,000 units of one of its products for the next quarter using the following cost data: Cost Data Costs Amount Direct materials costs $80,000 Direct labor costs $50,000 Variable Manufacturing overhead costs $40,000 Fixed costs for the quarter $28,000 A flexible budget for 15,000 units of production would show: Group of answer choices Direct material costs of $120,000, direct labor costs of $75,000, variable manufacturing costs of $60,000 and fixed costs of $28,000 Direct material costs of $80,000, direct labor costs of $50,000, variable manufacturing costs of $40,000 and fixed costs of $42,000 Direct material costs of $120,000, direct labor costs of $75,000, variable manufacturing costs of $60,000 and fixed costs of $42,000 Total variable costs of $195,000 and fixed costs of $102,000
Iota Inc. prepared its static budget for producing 10,000 units of one of its products for the next quarter using the following cost data: Cost Data Costs Amount Direct materials costs $80,000 Direct labor costs $50,000 Variable Manufacturing overhead costs $40,000 Fixed costs for the quarter $28,000 A flexible budget for 15,000 units of production would show: Group of answer choices Direct material costs of $120,000, direct labor costs of $75,000, variable manufacturing costs of $60,000 and fixed costs of $28,000 Direct material costs of $80,000, direct labor costs of $50,000, variable manufacturing costs of $40,000 and fixed costs of $42,000 Direct material costs of $120,000, direct labor costs of $75,000, variable manufacturing costs of $60,000 and fixed costs of $42,000 Total variable costs of $195,000 and fixed costs of $102,000
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter8: Budgeting
Section: Chapter Questions
Problem 4CMA: Krouse Company produces two products, forged putter heads and laminated putter heads, which are sold...
Related questions
Question
Iota Inc. prepared its static budget for producing 10,000 units of one of its products for the next quarter using the following cost data:
Cost Data| Costs | Amount |
|---|---|
| Direct materials costs | $80,000 |
| Direct labor costs | $50,000 |
| Variable |
$40,000 |
| Fixed costs for the quarter | $28,000 |
A flexible budget for 15,000 units of production would show:
Group of answer choices
Direct material costs of $120,000, direct labor costs of $75,000, variable manufacturing costs of $60,000 and fixed costs of $28,000
Direct material costs of $80,000, direct labor costs of $50,000, variable manufacturing costs of $40,000 and fixed costs of $42,000
Direct material costs of $120,000, direct labor costs of $75,000, variable manufacturing costs of $60,000 and fixed costs of $42,000
Total variable costs of $195,000 and fixed costs of $102,000
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