The production department of Regina Partners has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: Units to be produced 1st Quarter 24,000 Total direct labour-hours needed Total direct labour cost Each unit requires 1.4 direct labour-hours, and direct labour-hour workers are paid $20 per hour. In addition, the variable manufacturing overhead rate is $1.20 per direct labour-hour. The fixed manufacturing overhead is $167,500 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $51,500 per quarter. 2nd 3rd Quarter Quarter 29,000 26,000 Required: 1. Prepare the company's direct labour budget for the upcoming fiscal year, assuming that the direct labour workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced. Total manufacturing overhead 4th Quarter 23,000 2. Prepare the company's manufacturing overhead budget. Regina Partners Direct Labour Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Cash disbursements for manufacturing overhead Regina Partners Manufacturing Overhead Budget Year 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year

The production department of Regina Partners has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: Units to be produced 1st Quarter 24,000 Total direct labour-hours needed Total direct labour cost Each unit requires 1.4 direct labour-hours, and direct labour-hour workers are paid $20 per hour. In addition, the variable manufacturing overhead rate is $1.20 per direct labour-hour. The fixed manufacturing overhead is $167,500 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $51,500 per quarter. 2nd 3rd Quarter Quarter 29,000 26,000 Required: 1. Prepare the company's direct labour budget for the upcoming fiscal year, assuming that the direct labour workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced. Total manufacturing overhead 4th Quarter 23,000 2. Prepare the company's manufacturing overhead budget. Regina Partners Direct Labour Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Cash disbursements for manufacturing overhead Regina Partners Manufacturing Overhead Budget Year 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter10: Short-term Decision Making

Section: Chapter Questions

Problem 6PA: Gent Designs requires three units of part A for every unit of Al that it produces. Currently, part A...

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