FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It…
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future…
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Hruska Corporation's production budget for next year contained the following estimates: Units to be produced 1st Quarter 2nd Quarter 3rd Quarter. 4th Quarter 10,400 9,400 11,400 12,400 Each unit requires 0.25 direct labor-hour and direct laborers are paid $12.00 per hour. In addition, the variable manufacturing overhead rate is $1.70 per direct labor-hour. The fixed manufacturing overhead is $84,000 per quarter. The only noncash element of manufacturing overhead is depreciation of $24,000 per quarter. Required: 1. Calculate the company's total estimated direct labor cost for each quarter and for the year as a whole. 2. and 3. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter and for the year as a whole. Complete this question by entering your answers in the tabs below. Required 2 and 3 Required 1 Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarte and for the year as a whole. 2nd Quarter Total manufacturing overhead Cash disbursements for manufacturing overhead 1st Quarter < Required 1 3rd Quarter 4th Quarter Required 2 and 3> Year
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Transcribed Image Text:Hruska Corporation's production budget for next year contained the following estimates: Units to be produced 1st Quarter 2nd Quarter 3rd Quarter. 4th Quarter 10,400 9,400 11,400 12,400 Each unit requires 0.25 direct labor-hour and direct laborers are paid $12.00 per hour. In addition, the variable manufacturing overhead rate is $1.70 per direct labor-hour. The fixed manufacturing overhead is $84,000 per quarter. The only noncash element of manufacturing overhead is depreciation of $24,000 per quarter. Required: 1. Calculate the company's total estimated direct labor cost for each quarter and for the year as a whole. 2. and 3. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter and for the year as a whole. Complete this question by entering your answers in the tabs below. Required 2 and 3 Required 1 Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarte and for the year as a whole. 2nd Quarter Total manufacturing overhead Cash disbursements for manufacturing overhead 1st Quarter < Required 1 3rd Quarter 4th Quarter Required 2 and 3> Year
Hruska Corporation's production budget for next year contained the following estimates: 1st Quarter 2nd Quarter 3rd Quarter 10,400 11,400 9,400 Units to be produced. Each unit requires 0.25 direct labor-hour and direct laborers are paid $12.00 per hour. In addition, the variable manufacturing overhead rate is $1.70 per direct labor-hour. The fixed manufacturing overhead is $84,00- quarter. The only noncash element of manufacturing overhead is depreciation of $24,000 per quarter. Required: 1. Calculate the company's total estimated direct labor cost for each quarter and for the year as a whole. 2. and 3. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter and for the year as a whole. Complete this question by entering your answers in the tabs below. 4th Quarter 12,400 Required 2 and 3 Calculate the company's total estimated direct labor cost for each quarter and for the year as a whole. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Required 1 Total direct labor cost Required 1 Required 2 and 3> Year
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Transcribed Image Text:Hruska Corporation's production budget for next year contained the following estimates: 1st Quarter 2nd Quarter 3rd Quarter 10,400 11,400 9,400 Units to be produced. Each unit requires 0.25 direct labor-hour and direct laborers are paid $12.00 per hour. In addition, the variable manufacturing overhead rate is $1.70 per direct labor-hour. The fixed manufacturing overhead is $84,00- quarter. The only noncash element of manufacturing overhead is depreciation of $24,000 per quarter. Required: 1. Calculate the company's total estimated direct labor cost for each quarter and for the year as a whole. 2. and 3. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter and for the year as a whole. Complete this question by entering your answers in the tabs below. 4th Quarter 12,400 Required 2 and 3 Calculate the company's total estimated direct labor cost for each quarter and for the year as a whole. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Required 1 Total direct labor cost Required 1 Required 2 and 3> Year
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