Rubi, Inc. has the following production data for a new deluxe product in their quarterly budget:Planned Production in Units:.• May: 850⚫ June: 830.July: 1,300Rubi also produces each month 6,600 units of its standard product. It takes 2 direct labor hours to produce each standardunit and 6 direct labor hours to produce each deluxe unit. Rubi's cost per direct labor hour is $20. Direct labor cost for Julywould be budgeted at:Select one:O A. $420,000O B. $948,000O C. $891,600OD. $363,600O E. $316,000

To calculate the direct labor cost for July, we need to consider both the standard and deluxe…

Answered: Rubi, Inc. has the following production…

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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Jillian Inc. produces leather handbags. The production budget for the next four months is: July 5,100 units, August 7,300, September 7,700, October 8,500. Each handbag requires 1.3 hours of unskilled labor (paid $13 per hour) and 3.1 hours of skilled labor (paid $18 per hour). How much will be paid to skilled labor during the three months July through September? Multiple Choice $361,800 $1,311,300 $6,512,400 $1,121,580
Soft and Silky, Inc., manufactures bedding sets. The budgeted production is for 53,000 comforters in the coming year. Each comforter requires 6 yards of material. The estimated January 1 beginning inventory is 31,000 yards. The desired ending balance is 30,000 yards of material. If the material costs $1.50 per yard, what is the materials budget for the coming year? a.$385,500 b.$478,500 c.$475,500 d.$477,000
Each unit requires direct labor of 1.5 hours. The labor rate is $11.86 per hour and next year’s direct labor budget totals $795,253. How many units are included in the production budget for next year? Round to the nearest penny, two decimal places.
Thunder Creek Company uses 2 pounds of direct materials for each unit it produces, at a cost of $4.00 per pound. The company begins the year with 9,500 pounds of material in Raw Materials Inventory. Management desires an ending inventory of 25% of next month's materials requirements Prepare a Direct Materials Budget. (When entering answers in the direct materials budget, use the production budget for your cell references. Enter all values as positive--without a minus sign--in row 31.) 2018 Jan Feb Q1 Total April Budget #3: Direct Materials Budget Budgeted units to be produced Mar 30,800 25,200 19,200 2.00 Direct materials (pounds) per unit 2.00 Direct materials needed for production 50,400 38,400 12,600 2.00 61,600 8,600 Plus: Desired direct materials in ending inventory (pounds) 15,400 Total direct materials needed 51,000 65,800 70,200 Less: Direct materials in beginning inventory (pounds) 9,500 12,600 15,400 Budgeted purchase of direct materials 41,500 53,200 54,800 Direct material…
Cleaning Care Inc. expects to sell 9,000 mops. Fixed costs (for the year) are expected to be $13,000, unit sales price is expected to be $11, and unit variable costs are budgeted at $7. Cleaning Care's margin of safety (MOS) in units is:
Tucker Inc. needs 5kg of meat to make its dog treats per unit of product. Management wants materials on hand at the end of each month equal to 10% of the following month's production On March 31, 13,000 kg of material are on hand. Material cost is $0.40 per kg How much raw material needs to be purchased in April given the following production budget April May June July Production 26,000 46, 000 29, 000 101, 000 13, 000 140,000 153, 000 26,000
James Corporation is using the following flexible-budget formula for annual indirect labor cost: Total cost = P12,000 + P0.75 per machine hour. For the month of June, the operating budgets are based upon 10,000 hours of planned machine time. Indirect labor costs included in this planning budget are 8,500. How to get the 8,500?
XYZ Company is working on its direct labor budget for the next quarter (January, February and March). Each unit of product requires 0.4 hours (24 minutes) of direct labor. The direct labor normal rate is $6 per direct labor-hour. The company's direct labor work force consists of permanent employees who are guaranteed to be paid for at least 1,800 hours of work each month. If the number of required direct labor hours is less than this number, the workers are paid for 1,800 hours any way. Any hours worked in excess of 1,800 hours in a month are paid at the rate of 1.5 times the normal hourly rate for direct labor. The production budget calls for producing 5,000 units in January, 4,000 units in February, and 6,000 units in March. What would be the budgeted total direct labor cost for the quarter? Select one: O a. $36,000 O b. $52,800 Oc. $39,600 O d. None of the given answers O e. $46,200
For Crane Company, units to be produced are 5,300 in quarter 1 and 7,420 in quarter 2. It takes 1.6 hours to make a finished unit, and the expected hourly wage rate is $15 per hour. Prepare a direct labor budget by quarters for the 6 months ending June 30, 2022. $ $ CRANE COMPANY Direct Labor Budget 1 Quarter $ $ 2 $ Six Months
AMZ Corporation produces a single product that requires three yards of direct materials to produce each unit. AMZ has the following budgeted information related to this product for the next five months: August September October November December units to be produced 29,900 cost of direct materials to be purchased $359,985 $493,515 $319, 200 37,800 14,200 26,300 AMZ wants to maintain monthly ending inventories of direct materials equal to 70% of the next month's production needs. The cost of direct materials is $5 per yard. Calculate the number of units budgeted to be produced in September.
Dee and Co. is a small manufacturing business which has prepared the following monthly budgeted figures for an average month: Production Volume 15,000 units Selling Price per Unit GH¢5.50 Sales GH¢82,500 Variable Costs GH¢37,500 Fixed Costs GH¢20,000 Profit GH¢25,000 Required: a) What is the contribution per unit? b) Determine the contribution to sales ratio. c) What is the number of units Dee and Co. needs to produce and sell each month in order to break even? d) Find the sales revenue in value required to make a target profit of GH¢50,000.
Shalom Company prepared its 2023 manufacturing overhead budget to produce Product Peace. Variable overhead costs per direct labor hour are Indirect materials, P3; Indirect labor, P15; Maintenance, P2. Fixed costs totaled P68,000 composed of Supervisor's salaries, P36,000; Depreciation, P20,000; Maintenance, P12,000. Producing each unit requires 2 direct labor hours. Shalom Company estimates that units to be produced for each quarter are 3,000, 3,600, 4,000, and 6,000, respectively. Amounts must be in whole numbers. Example: 88,000 or (88,000) How much is the total manufacturing overhead budget? Cash payments in quarter 3

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