FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Roget Factory has budgeted factory overhead for the year at $15,500,000. It plans to produce 2,000,000 units of product. Budgeted direct labor hours are 1,050,000, and budgeted machine hours are 750,000. Using a single plantwide factory overhead rate based on direct labor hours, the factory overhead rate for the year is a. $20.67 b. $77.50 c. $7.75 Od. $14.76arrow_forwardSubject : Accountingarrow_forwardLean Accountingarrow_forward
- I need an answer for number 1, please, thank you!arrow_forwardCarlton, Inc. manufactures model airplane kits and projects production at 550, 420, 150, and 800 kits for the next four quarters. (Click the icon to view the manufacturing information.) Prepare Carlton's direct materials budget, direct labor budget, and manufacturing overhead budget for the year. Round the direct labor hours needed for production, budgeted overhead costs, and predetermined overhead allocation rate to two decimal places. Round other amounts to the nearest whole number. Begin by preparing Carlton's direct materials budget. Direct materials (ounces) per kit Direct materials needed for production. Plus: Total direct materials needed Less: Budgeted purchases of direct materials Direct materials cost per ounce Budgeted cost direct materials purchases Carlton, Inc. Direct Materials Budget For the Year Ended December 31 First Second Quarter Quarter Third Quarter Fourth Quarter Total More info Direct materials are five ounces of plastic per kit and the plastic costs $3 per…arrow_forwardA company produces three components on the same machine. The components are used i the manufacture of a finished product. The budget for next year indicates a requirement for 3,000 units of each component, but only 60,000 hours of machine time will be available. Additional components can be purchased from an external supplier to meet any production shortfall. Component Machine hours per unit A B с 9 5 O $537,000 O $543,000 O $549,000 O $553,000 12 Show Transcribed Text Variable production cost per unit $ per unit 45 70 56 Purchase price from external supplier $ per unit 65 78 80 What is the minimum total variable cost at which the 3,000 units of all three components can be obtained?arrow_forward
- A company identified the following partial list of activities, costs, and activity drivers expected for the next year: Budgeted Costs $ 83,600 $ 8,800 $ 40,500 Activity Extrusion costs Handling costs Packaging costs Production volume Batches made Orders filled Product A 750,000 units 200 batches 75 Cost Driver Number batches made Number of orders filled Number of units made Product B 600,000 units 750 batches 200 Calculate activity rates for each of the three activities using activity-based costing (ABC). 4arrow_forwardplease answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Peggy's Pillows produces and sells a decorative pillow for $75.00 per unit. In the first month of operation, 2,000 units were produced and 1,750 units were sold. Actual fixed costs are the same as the amount budgeted for the month. Budgeted monthly production is 2,500 units. The production volume variance is written off to the cost of goods sold account. Other information for the month includes: Variable manufacturing costs $20.00 per unit Variable marketing costs $ 3.00 per unit Fixed manufacturing costs per month $ 17,500 Administrative expenses, all fixed $15.00 per unit 1. What is cost of goods sold using absorption costing?arrow_forwardanswer in text form please (without image)arrow_forward
- Help pleasearrow_forwardPlease do not give image format and explanationarrow_forwardplease answer all requirements with explanation , computation , formulation and steps thanks for help in advance The total factory overhead for Bardot Marine Company is budgeted for the year at $600,000 divided into two departments: Fabrication, $420,000, and Assembly, $180,000. Bardot Marine manufactures two types of boats: speedboats and bass boats. The speedboats require 8 direct labor hours (dlh) in Fabrication and 4 direct labor hours in Assembly. The bass boats require 4 direct labor hours in Fabrication and 8 direct labor hours in Assembly. Each product is budgeted for 250 units of production for the year. A. Determine the total number of budgeted direct labor hours for the year in each department. Fabrication direct labor hours Assembly direct labor hours B. Determine the departmental factory overhead rates for both departments. When required, round all per-unit answers to the nearest cent. Fabrication per dlh Assembly per dlh C. Determine the factory…arrow_forward
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