Ivanhoe Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available forIvanhoe:Technicians' wages and benefitsParts manager's salary and benefitsOffice employee's salary and benefitsOther overheadTotal budgeted costs(a)Rate chargedTime Charges$175,000The company wants a $30 profit margin per hour of labour and a 20% profit margin on parts. It has budgeted for 7,000 hours of repairtime in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $350,000.Calculate the rate charged per hour of labour.tA35,00014,000$224,000$Material Loading Chargesper hour$33,2508,75017,500$59,500

INTRODUCTION:Labour rates are used to calculate both the price of employee time invoiced to…

Answered: Ivanhoe Remanufacturing rebuilds spot…

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter19: Support Department And Joint Cost Allocation

Section: Chapter Questions

Problem 2CMA: Adam Corporation manufactures computer tables and has the following budgeted indirect manufacturing...

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Adam Corporation manufactures computer tables and has the following budgeted indirect manufacturing cost information for the next year: If Adam uses the step-down (sequential) method, beginning with the Maintenance Department, to allocate support department costs to production departments, the total overhead (rounded to the nearest dollar) for the Machining Department to allocate to its products would be: a. 407,500. b. 422,750. c. 442,053. d. 445,000.
Indigo Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2025 is available for Indigo tab Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs caps lock (a) Your answer is correct. Labor rate esc Compute the rate charged per hour of labor. ! 1 Q The company desires a $40 profit margin per hour of labor and a 28% profit margin on parts. It has budgeted for 7,400 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2025 will be $416,000. A $ 22 N Ne @ 2 * W $251,600 S Time Charges $318,200 83 @ * # 3 59,200 X 7,400 26 per hour 80 E D A GA $ 4 Material Loading Charges $40,700 20,800 $73,320 11,820 888 C R ar do % 5 F T V 6 G Y & VI A 7 B H U 8 J N ( M
Sandhill Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for Sandhill: Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs (a) Your answer is correct. Time Charges Material Loading Charges Rate charged $192.240 $ 56,960 28,480 $277,680 The company wants a $40 profit margin per hour of labour and a 20% profit margin on parts. It has budgeted for 7.120 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $366,000. Calculate the rate charged per hour of labour. $40,260 11,895 79 per hour 18,300 $70,455
Carla Vista Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for Carla Vista: Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs (a) Rate charged $ Time Charges Material Loading Charges $245,830 Calculate the rate charged per hour of labour. eTextbook and Media Save for Later 47,580 31,720 $325,130 The company wants a $30 profit margin per hour of labour and a 25% profit margin on parts. It has budgeted for 7,930 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $388,000. $36,860 16,490 per hour 25,220 $78,570 Attempts: 0 of 2 used Submit Answer
Blue Spruce Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 is available for Blue Spruce. Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead (a) Total budgeted costs Compute the rate charged per hour of labor. Time Charges $202,800 Labor rate $ 39,000 7,800 $249,600 The company desires a $39 profit margin per hour of labor and a 28% profit margin on parts. It has budgeted for 7,800 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2022 will be $416,000. Material Loading Charges per hour $39,300 14,780 29,120 $83,200
Oriole Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for Oriole: Time Charges Material Loading Charges Technicians' wages and benefits $260,700 Parts manager's salary and benefits $36,960 Office employee's salary and benefits 63,200 16,720 Other overhead 23,700 25,520 Total budgeted costs $347,600 $79,200 The company wants a $35 profit margin per hour of labour and a 30% profit margin on parts. It has budgeted for 7,900 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $352,000. (a) Your answer is correct. Calculate the rate charged per hour of labour. Rate charged eTextbook and Media 79 per hour Attempts: 1 of 2 used (b) Calculate the material loading percentage. (Round answer to 3 decimal places, e.g. 15.251%.) Material loading percentage eTextbook and Media Save for Later % Attempts: 0 of 2 used Submit Answer
Bonita Industries has the following budgeted costs for the next year: Time Charges Material Charges Shop employee' wages and benefits $130000 $ - Parts manager's salary and benefits - 45000 Office employee's salary and benefits 35000 25000 Other overhead 15000 55000 Invoice cost of parts and materials - 420000 Total budgeted costs $180000 $545000 The labor rate to be used next year assuming 7500 hours of repair time and a profit margin of $25 per labor hour is
Automatic Irrigation, Inc. is preparing its manufacturing overhead budget for the 2022 year. Relevant data consist of the following: Qtr. 4 Qtr. 1 Qtr. 2 Qtr. 3 Control Units to be produced (by quarters): 6,000 10,000 12,000 9,000 Direct labor time: 1 hour per unit Variable overhead costs per direct labor hour: Indirect Materials $0.90; Indirect Labor $1.40; and Maintenance $0.50. Fixed overhead costs per quarter: Supervisory salaries $27,600; depreciation $4,000; and maintenance $1,900. Required Prepare the manufacturing overhead budget for the 2022 year showing quarterly data.
The company desires a S30.00 profit margin per hour of labor and a 20.00% profit margin on parts. It has budgeted for 7,000 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2017 will be S380,000. a Compute the rate charged per hour of labor b. Compute the material loading percentage a Jeff Corporation has requested an estimate to rebuild its spot welder. Second Chance estimates that it would require 25 hours of labor and $2.000 of parts. Compute the total estimated bill Label each part and show ALL your work!
Sweet Acacia Company is preparing its manufacturing overhead budget for 2022. Relevant data are as follows: 1. Units to be produced (by quarters): 9,700, 12,000, 15,100,17,600 2. Direct labour: 1.4 hours per unit 3. Variable overhead costs per direct labour hour: indirect materials $0.70; indirect labour $1.10; and maintenance $0.50 4. Fixed overhead costs per quarter: supervisory salaries $34,900; depreciation $16,400; and maintenance $15,500 Prepare the manufacturing overhead budget for the year, showing quarterly data. (Round variable cost per unit to 2 decimal places, e.g. 15.25.) SWEET ACACIA COMPANY Manufacturing Overhead Budget For the Year Ending December 31, 2022 1 2 Quarter $ $ $ $ $ $ $ $ $ $ Year
The following data get out from Samsung industrial company: Direct materials costs JD 75 Direct manufacturing labor costs 20 Variable manufacturing overhead costs 15 Fixed overhead costs 28 Each TV need to 0.75 hour, and each hour by JD 31.5. The number of units manufactured is the cost driver for direct materials, direct manufacturing labor, and variable manufacturing overhead. The relevant range for the cost driver is from 0 to 6,000 TV. Budgeted and actual data for November 2019 are: Budgeted fixed costs for production JD 141, 750 Budgeted selling price JD 138 per unit Actual selling price 152.75 per unit Revenue at budgeted…
Rose Company uses a flexible budget for manufacturing overhead based on direct labor hours. The following information are from the yearly static overhead budget for the Production Department for 2023. It is based on 300,000 direct labor hours. Variable Costs Fixed Costs Indirect labor ($1.2 per DL hour) $30,000 Supervision $ 5,000 Supplies and lubricants ($0.5 per DL hour) 12,500 Depreciation 2,000 Maintenance ($0,7 per DL hour) 17,500 Property taxes 1,500 Utilities ($0,4 per DL hour) 10,000 Insurance 1,000 During July, 24,500 direct labor hours were worked. The company incurred the following variable costs in July: indirect labor $30,200, supplies and lubricants $11,600, maintenance $17,500, and utilities $9,200. Actual fixed overhead costs were the same as monthly budgeted fixed costs. a.) Prepare a flexible monthly budget for the Production Department for the relevant range between 24,000 and 26,000 DL hours with increments of 1000 DL hours. b.) Prepare a flexible budget…

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