The production budget for Manner Company shows units to produce as follows: July, 650; August, 710; and September, 570. Each unit produced requires one hour of direct labor. The direct labor rate is budgeted at $17 per hour in July and August, but is budgeted to be $17.75 per hour in September.Prepare a direct labor budget for the months July, August, and September.**Table: Manner Company - Direct Labor Budget**| | July | August | September ||----------------|------|--------|-----------|| Units to produce | 650 | 710 | 570 || Direct labor hours needed | | | || Cost of direct labor | | | |- **Units to produce**: This row indicates the number of units that Manner Company plans to produce each month.- **Direct labor hours needed**: This row will be filled with the same numbers as units to produce, since each unit requires one hour of direct labor.- **Cost of direct labor**: This row is calculated by multiplying direct labor hours by the hourly wage for each month. For July and August, the rate is $17, while in September, it is $17.75.

The production budget for Manner Company shows units to produce as follows: July, 650; August, 710; and September, 570. Each unit produced requires one hour of direct labor. The direct labor rate is budgeted at $17 per hour in July and August, but is budgeted to be $17.75 per hour in September. Prepare a direct labor budget for the months July, August, and September. Units to produce Direct labor hours needed Cost of direct labor MANNER COMPANY Direct Labor Budget July 650 August 710 September 570 units

The production budget for Manner Company shows units to produce as follows: July, 650; August, 710; and September, 570. Each unit produced requires one hour of direct labor. The direct labor rate is budgeted at $17 per hour in July and August, but is budgeted to be $17.75 per hour in September. Prepare a direct labor budget for the months July, August, and September. Units to produce Direct labor hours needed Cost of direct labor MANNER COMPANY Direct Labor Budget July 650 August 710 September 570 units

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Addison Company budgets production of 2,760 units during the second quarter. Information on its direct labor and its variable and fixed overhead is as follows: Direct labor Variable overhead Fixed overhead 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Each finished unit requires 5 direct labor hours, at a cost of $8 per hour. Budgeted at the rate of $10 per direct labor hour. Budgeted at $550,000 per quarter. Prepare a direct labor budget. Units to produce Direct labor hours needed Cost of direct labor ADDISON COMPANY Direct Labor Budget Second Quarter 2,760 units
Find the direct labor budget, and manufacturing overhead budget for the year
The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted direct labor-hours 9,000 8,700 9,000 8,400 The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $3.25 per direct labor-hour and its total fixed manufacturing overhead is $58,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $14,500 per quarter. Required: Prepare the company’s manufacturing overhead budget for the upcoming fiscal year. Compute the company’s predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year.
Yuvwell Corporation's direct labor budget for next year contained the following information: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 8,600 8,500 8,200 8,800 Budgeted direct labor-hours The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $2.75 per direct labor-hour and its total fixed manufacturing overhead is $54,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation of $13,500 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for next year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for next year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the company's manufacturing overhead budget for next year. Note: Round "Variable manufacturing overhead rate" answers to 2 decimal places. Variable manufacturing…
Vishu
Black Company expects to produce 2,100 finished goods units in January and 2,010 finished goods units in February. Black budgets 7 direct labor hours per finished good unit. Direct labor costs averages $11 per hour. Black's budgeted cost of Direct Labor for February is O $124,300 O $142,630 O $154,770 O $139,200 O $161,420
the budget for abc company is 20,000 units of product z to be produced each month the standard cost of each month is as follows direct materials $450 direct labour $150 fixed overhead $300, the standard selling price is $15,00 actual sales 18,000, actual production as budget 20,000, determine the budgeted profit for the period using the marginal costing technique
Harlow Parts produces a single product at its Superior Plant. The master budget for July follows: Harlow Parts Superior Plant Master Budget (For July) Quantity Revenue Variable manufacturing cost Variable Selling, General and Administrative cost Contribution margin Fixed manufacturing cost Fixed Selling, General and Administrative cost Operating profit 8,200 $ 1,558,000 590,400 98,400 $ 869,200 212,000 370,000 $ 287,200 The following operating income statement shows the actual results for July: Harlow Parts Superior Plant Operating Results (For July) Quantity (units) Revenue Variable manufacturing cost Variable Selling, General and Administrative cost Contribution margin Fixed manufacturing cost Fixed Selling, General and Administrative cost Operating profit Required: 9,600 $ 1,760,800 780,394 111,040 $ 869,366 223,040 380,000 $ 266,326 Prepare a profit variance analysis for the Superior Plant for July. (Do not round intermediate calculations. Indicate the effect of each variance by…
Static budget versus flexible budget The production supervisor of the Machining Department for Hagerstown Company agreed to the following monthly static budget for the upcoming year: Hagerstown Company Machining Department Monthly Production Budget Wages Utilities Depreciation Total $1,090,000 49,000 82,000 $1,221,000 The actual amount spent and the actual units produced in the first three months in the Machining Department were as follows: Amount Spent Units Produced 100,000 91,000 82,000 May June July The Machining Department supervisor has been very pleased with this performance because actual expenditures for May-July have been significantly less than the monthly static budget of 1,221,000. However, the plant manager believes that the budget should not remain fixed for every month but should "flex" or adjust to the volume of work that is produced in the Machining Department. Additional budget information for the Machining Department is as follows: $1,150,000 1,095,000 1,042,000…
Starts Inc. using production levels of 62,000, 67,200, and 69,300 units produced. The following additional information is necessary to complete the budget. Prepare a flexible production budget for the year ending December 31 for :Variable costs: Direct labor ($18.00 per unit) Direct materials ($5.00 per unit) Variable manufacturing costs ($8.00 per unit) Fixed costs: Supervisor’s salaries $27,000 Rent 18,000 Depreciation on equipment 82,000
The production budget for Manner Company shows units to produce as follows: July, 700; August, 760; and September, 620. Each unit produced requires one hour of direct labor. The direct labor rate is budgeted at $17 per hour in July and August, but is budgeted to be $17.75 per hour in September. Prepare a direct labor budget for the months July, August, and September. Units to produce Direct labor hours needed Cost of direct labor MANNER COMPANY Direct Labor Budget July 700 August 760 September 620 units
The production budget for Manner Company shows units to produce as follows: July, 630; August, 690; and September, 550. Each un produced requires three hours of direct labor. The direct labor rate is budgeted at $16 per hour in July and August, but is budgeted to be $16.75 per hour in September. Prepare a direct labor budget for the months July, August, and September. Units to produce Direct labor hours needed Cost of direct labor MANNER COMPANY Direct Labor Budget July August 630 690 September 550 units