The technology budget for Carlyle for the first quarter of 2017 was as follows: Client interactions 12,000 Fixed Overhead $14,400 Variable Overhead 4,800 CPU units @ $2 per CPU unit The actual results for the first quarter of 2017 are given below: Client interactions 13,600 $14,100 $11,200 5,500 Fixed Overhead Variable Overhead CPU Units used

The technology budget for Carlyle for the first quarter of 2017 was as follows: Client interactions 12,000 Fixed Overhead $14,400 Variable Overhead 4,800 CPU units @ $2 per CPU unit The actual results for the first quarter of 2017 are given below: Client interactions 13,600 $14,100 $11,200 5,500 Fixed Overhead Variable Overhead CPU Units used

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 1P: The Sales Department of Minimus Inc. has forecast sales for May 2016 to be 40,000 units. Additional...

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Sweet Acacia Company is preparing its manufacturing overhead budget for 2022. Relevant data are as follows: 1. Units to be produced (by quarters): 9,700, 12,000, 15,100,17,600 2. Direct labour: 1.4 hours per unit 3. Variable overhead costs per direct labour hour: indirect materials $0.70; indirect labour $1.10; and maintenance $0.50 4. Fixed overhead costs per quarter: supervisory salaries $34,900; depreciation $16,400; and maintenance $15,500 Prepare the manufacturing overhead budget for the year, showing quarterly data. (Round variable cost per unit to 2 decimal places, e.g. 15.25.) SWEET ACACIA COMPANY Manufacturing Overhead Budget For the Year Ending December 31, 2022 1 2 Quarter $ $ $ $ $ $ $ $ $ $ Year
A. Parkson Limited has produced an overhead budget for next year based on two levels of activity, 5000 units and 8,000 units. It needs to calculate budgeted figures based on an activity level of 6,800 units. The budgeted figures for activity levels of 5000 and 8,000 are shown below: Parkson Limited. Budgeted Overheads for the year ending 31 December 2015Production (Units) 5,000 8,000 Type of Cost $ $ Building rent Fixed 20,000 20,000 Building Depreciation Fixed 31,500 31,500Indirect labour Variable 25,000 40,000Indirect materials Variable 15,000 24,000Electricity Semi-variable 30,000 36,000Stock insurance Semi-variable 30,000…
A. Parkson Limited has produced an overhead budget for next year based on two levels of activity, 5000 units and 8,000 units. It needs to calculate budgeted figures based on an activity level of 6,800 units. The budgeted figures for activity levels of 5000 and 8,000 are shown below: Parkson Limited. Budgeted Overheads for the year ending 31 December 2015 Production (Units) 5000 8000 Type of Cost $ $ Building rent Fixed 20,000 20,000 Building Depreciation Fixed 31,500 31,500 Indirect labour Variable 25,000 40,000 Indirect materials Variable 15,000 24,000 Electricity Semi-variable 30,000 36,000 Stock insurance Semi-variable 30,000 38,400 Total 151,500 189,900 Required:Calculate the budgeted cost for each of the six types of overheads at an activitylevel of 6,800 units giving consideration to the fact that some overheads are fixedcosts, some are variable and some are semi-variable.
Concord Company is preparing its manufacturing overhead budget for 2025. Relevant data consist of the following. Units to be produced (by quarters): 11,200, 13,440, 15,680, 17,920. Direct labor: Time is 3.00 hours per unit. Variable overhead costs per direct labor hour: indirect materials $1.60; indirect labor $2.40; and maintenance $1.00. Fixed overhead costs per quarter: supervisory salaries $46,200; depreciation $16,800; and maintenance $13,440. Prepare the manufacturing overhead budget for the year, showing quarterly data. (Round overhead rate to 2 decimal place: 1.25. List variable expenses before fixed expense.) A $ 1 LA CONCORD COMPANY Manufacturing Overhead Budget 2 Quarter LA 3
Chubbs Inc.’s manufacturing overhead budget for the first quarter of 2020 contained the following data. Variable Costs Fixed Costs Indirect materials $11,300 Supervisory salaries $36,600 Indirect labor 10,600 Depreciation 7,700 Utilities 7,700 Property taxes and insurance 8,000 Maintenance 5,700 Maintenance 5,300 Actual variable costs were indirect materials $15,300, indirect labor $9,300, utilities $9,600, and maintenance $5,100. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $9,100. The actual activity level equaled the budgeted level.All costs are considered controllable by the production department manager except for depreciation, and property taxes and insurance.(a) Prepare a manufacturing overhead flexible budget report for the first quarter. (List variable costs before fixed costs.) CHUBBS INC.Manufacturing Overhead Flexible Budget ReportFor the Quarter Ended March 31, 2020…
Concord Company is preparing its manufacturing overhead budget for 2025. Relevant data consist of the following. Units to be produced (by quarters): 11,200, 13,440, 15,680, 17,920. Direct labor: Time is 3.00 hours per unit. Variable overhead costs per direct labor hour: indirect materials $1.60; indirect labor $2.40; and maintenance $1.00. Fixed overhead costs per quarter: supervisory salaries $46, 200; depreciation $16,800; and maintenance $13,440. Prepare the manufacturing overhead budget for the year, showing quarterly data. (Round overhead rate to 2 decimal place 1.25. List variable expenses before fixed expense.) CONCORD COMPANY Manufacturing Overhead Budget Quarter 123 Concord Company is preparing its manufacturing overhead budget for 2025. Relevant data consist of the following. Units to be produced (by quarters): 11,200, 13,440, 15,680, 17,920. Direct labor: Time is 3.00 hours per unit. Variable overhead costs per direct labor hour: indirect materials $1.60; indirect labor…
Automatic Irrigation, Inc. is preparing its manufacturing overhead budget for the next year. Relevant data consist of the following Qtr. 1 Qtr. 2 Qtr. 3 Qtr. 4 Total Control Units to be produced (by quarters): 8,000 7,000 10,000 12,000 37,000 Direct labor time: 1 hour per unit Variable overhead costs per direct labor hour: Indirect Materials $0.80; Indirect Labor $1.10; and Maintenance $0.60. Fixed overhead costs per quarter: Supervisory salaries $19,250; depreciation $3,000; and maintenance $2,250. Required Prepare the manufacturing overhead budget for the next year showing quarterly data and the total amounts for the full year.
Crane Company is preparing its manufacturing overhead budget for 2022. Relevant data consist of the following. Units to be produced (by quarters): 10,600, 12,720, 14,840, 16,960. Direct labor: Time is 1.50 hours per unit. Variable overhead costs per direct labor hour: indirect materials $0.8; indirect labor $1.2; and maintenance $0.5. Fixed overhead costs per quarter: supervisory salaries $43,725; depreciation $15,900; and maintenance $12,720. Prepare the manufacturing overhead budget for the year, showing quarterly data. (Round overhead rate to 2 decimal places, e.g. 1.25. List variable expenses before fixed expense.) CRANE COMPANY Manufacturing Overhead Budget
Automatic Irrigation, Inc. is preparing its manufacturing overhead budget for the 2022 year. Relevant data consist of the following: Qtr. 4 Qtr. 1 Qtr. 2 Qtr. 3 Control Units to be produced (by quarters): 6,000 10,000 12,000 9,000 Direct labor time: 1 hour per unit Variable overhead costs per direct labor hour: Indirect Materials $0.90; Indirect Labor $1.40; and Maintenance $0.50. Fixed overhead costs per quarter: Supervisory salaries $27,600; depreciation $4,000; and maintenance $1,900. Required Prepare the manufacturing overhead budget for the 2022 year showing quarterly data.
In 2020 the budget for a machine shop showed overheads of $60,000 and volume of activity of12,000 machine hours.In January of 2020, the machine shop incurred $5,400 of overhead and 1,050 machine hourswere worked. Required:a. Determine:i. The predetermined absorption rate. ii. The under/over absorption rate. b. With the use of calculation, explain the factors that contributed to the under/over absorptionof overheads.
5) Hakan&Ahmet Manufacturing Company uses applied overhead rate for allocating its manufacturing overhead to its products. The following information is estimated for the upcoming year of 2024: BUDGETED COSTS AND ESTIMATED ACTIVITY LEVELS Budgeted MOH Budgeted Direct Materals Cost Budgeted Direct Labor Cost Estimated Direct Labor Hours Estimated Machine Hours AMOUNTS and HOURS $ 720,000 $ 600,000 $ 480,000 72,000 dlh 120,000 mh At the end of the first week of January 2024, the company completed only one job order. Actual costs and actual usage of dlh and mh for this unit were as follows: Job Order Direct Material Cost ($) 100 GRS-34 Direct Labor Direct Labor Cost ($) 150 Hours 15 Machine Hours 30 Q1) Calculate a predetermined manufacturing overhead rate (applied overhead rate) by using each of the cost drivers of "direct materials cost", "direct labor hours", "direct labor costs" and "machine hours". Q2) By using each of these rates, calculate the unit cost of this job order.
Gump Painting Service has budgeted the following time and material for 2016: BUDGETED COSTS FOR 2016 Time Material Charges Charges Painters’ wages and benefits $ 36,000 Service manager’s salary and benefits $23,000 Office employee’s salary and benefits 12,000 3,000 Cost of paint 50,000 Overhead (supplies, utilities, etc.) 16,000 8,500 Total budgeted costs $64,000 $84,500 Gump budgets 4,000 hours of paint time in 2016 and will charge a profit of $12 per hour, in addition to a 25% markup on the cost of paint. On February 15, 2016, Gump is asked to prepare a price estimate to paint a building. Gump estimates that this job will take 12 labor hours and $500 in paint. Instructions Compute the labor rate for 2016. Compute the material loading charge rate for 2016. Prepare a time-and-material price estimate for painting the building.