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 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. Calculate the rate charged per hour of labour. eTextbook and Media Save for Later 47,580 31,720 $325,130 $36,860 16,490 25,220 $78,570 per hour Attempts: 0 of 2 used Submit Answer

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 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. Calculate the rate charged per hour of labour. eTextbook and Media Save for Later 47,580 31,720 $325,130 $36,860 16,490 25,220 $78,570 per hour Attempts: 0 of 2 used Submit Answer

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Bowshar Hills Company sells shoes and expects to produce and sell 30,000 units during the year 2022 with no beginning or ending inventories as it plans to produce what it can sell during the same year. The total budgeted fixed manufacturing overhead cost for the year is $50,000. The company accounts show that the budgeted direct material cost is $4 per unit, budgeted direct labor cost is $6 per direct labor hour, and budgeted variable manufacturing overhead is $2 per direct labor hour. Each unit produced takes 2 hours of skilled labor time. The cost of goods sold reported in the budgeted income statement for 2022 is: O a. $650,000 O b. $450,000 Oc. None of the given answers O d. $1,050,000 O e. $850,000
Hills Company sells shoes and expects to produce and sell 50,000 units during the year 2022 with no beginning or ending inventories as it plans to produce what it can sell during the same year . The total budgeted fixed manufacturing overhead cost for the year is $50,000 . The company accounts show that the budgeted direct material cost is $ 4 per unit , budgeted direct labor cost is $ 6 per direct labor hour , and budgeted variable manufacturing overhead is $2 per direct labor hour . Each unit produced takes 2 hours of skilled labor time . The cost of goods sold reported in the budgeted income statement for 2022 is : a. None of the given answers b. $450,000 c . $650,000 d. $1,050,000 e. $850,000
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The Current Designs staff has prepared the annual manufacturing budget for the rotomolded line based on an estimated annual production of 3,960 kayaks during 2020. Each kayak will require 56 pounds of polyethylene powder and a finishing kit (rope, seat, hardware, etc.). The polyethylene powder used in these kayaks costs $1.00 per pound, and the finishing kits cost $150 each. Each kayak will use two kinds of labor-2 hours of type I labor from people who run the oven and trim the plastic, and 3 hours of work from type II workers who attach the hatches and seat and other hardware. The type I employees are paid $19 per hour, and the type II are paid $16 per hour. Manufacturing overhead is budgeted at $381,520 for 2020, broken down as follows. Variable costs Indirect materials Manufacturing supplies Maintenance and utilities Fixed costs Supervision Insurance Depreciation Total Polyethylene powder Finishing kits Type I labor Type II labor Indirect materials Manufacturing supplies Maintenance…
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please answer question 1,2 and 3 An electrical component manufacturer budgets to sell 35,000 units although the factory has the capacity to produce 40,000 units under normal circumstances. Direct costs per unit are as follows: Wages $2.00 Materials $8.00 Overheads $4.00 Fixed costs for the period are expected to be $200,000. The selling price is $22 per unit. You are going to: Calculate how many units must be made and sold in order to breakeven during the period and then express the information on a CVP chart. 2. Ascertain the budgeted profit for the period, if 35,000 units are sold. 3. State the number of units to be manufactured when the amount of capital invested in this production is $640,000 and the directors require a 20% return on capital employed.
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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…
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
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