Chapter 11 HW

Spiffy Shades Corporation manufactures artistic frames for sunglasses. Talia Demarest, controller, is responsible for preparing the company's master budget. In compiling the budget data for 20x1, Demarest has learned that new automated production equipment will be installed on March 1. This will reduce the direct labor per frame from 3.0 hours to 2.75 hours. Labor-related costs include pension contributions of $1.55 per hour, workers' compensation insurance of $1.25 per hour, employee medical insurance of $5 per hour, and employer contributions to Social Security equal to 6.00 percent of direct- labor wages. The cost of employee benefits paid by the company on its employees is treated as a direct-labor cost. Spiffy Shades Corporation has a labor contract that calls for a wage increase to $21.00 per hour on April 1, 20x1. Management expects to have 22,000 frames on hand at December 31, 20x0, and has a policy of carrying an end-of-month inventory of 100 percent of the following month's…

Part IV Gaurav's Restaurant is analyzing an increase in its labour cost. You have been given the following information on the average hourly rate for its front-of-house positions and an excerpt from its budget and actual results for the month. Server Busser Host Position Required Server Busser Host Position Actual Total Cost $11,963 2,320 1,615 Average Rate $16.00 $15.00 $18.00 Hours Worked 725 160 95 Budget Total Cost $12,000 $2,250 $1,620 Hours Worked 750 150 90 a) Calculate the cost variance for each position. b) Calculate the quantity variance for each position. c) Calculate the total variance for each position.

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Saved antcring overhead s budgeted to be $33,000 plus $6 per unit produced. What Is budgeted manufacturing overhead for AuguUst? 32 Sylerh tas brecast production for the next three months as follows: July 6,500 units, August 8,200 units, September 9,100 units. Monthly Mutole Choice S82.200 $I2.000 $9.200 SE7500

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Q.prepare Manufacturing overhead cost budgets for each of the three activities for april.

Q.Prepare Revenues budget  for June

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The cheque-clearing office of Pay Loans Company is responsible for processing all cheques that come to the company for payment. Managers at the company believe that variable overhead costs are essentially proportional to the number of labour-hours worked in the office, so labour-hours are used as the activity base when preparing variable overhead budgets and performance reports. Data for October, the most recent month, appear below: Budgeted labour-hours Actual labour-hours Standard labour-hours allowed for the actual number of cheques processed Variable overhead costs: Office supplies Staff coffee lounge. Indirect labour Total variable overhead cost Cost Formula (per labour- hour) $ 1.10 0.30 2.70 $4.10 Actual Costs Incurred in October $ 1,391 463 2,980 $ 4,834 1,380 1,310 1,400 Fixed overhead at Pay Loans Company consists entirely supervisory salaries and is applied at a rate of $6 per direct labour-hour. Actual fixed overhead costs totalled $6,200 in October, while the flexible…

Question 1 Green Co. has three production departments Fern, Forest, and Moss and one service department Shade. Green Co. is preparing its annual budget for the final quarter of 2021. Planned overhead costs for the quarter are as follows: Overheads Allocated overheads 40,500 Supervision Plant Depreciation 14,400 20,000 6,000 46,000 Machine Insurance Rates and Rent The following information is available for each department: Departmental details Fern Forest Moss Shade Allocated overhead 11,000 16,500 2,500 9,500 3,500 3,500 1,500 Machine Value (£) Budgeted Direct Labour hours Floor Area Occupied (Sq.metres) Number of employees Plant at cost (£000) 5,000 1,200 600 1,800 1000 3,000 800 200 700 400 40 80 1,845 852 61 142 Of the total overhead costs allocated to the service department Shade, 20% is charged to Forest and the remainder is charged equally to the other two production department. a) Prepare an overhead analysis sheet showing the total overhead cost budgeted for all four…

6. Question Content Area Administrative Expense Budget Green Earth Landscaping Company provides monthly and weekly landscaping and maintenance services to residential customers in the tri-city area. Green Earth has no variable administrative expense. Fixed administrative expenses for June, July, and August include: Salaries $10,000 Insurance 2,100 Depreciation 3,900 Accounting services 800 Required: Question Content Area 1. Construct an administrative expense budget for Green Earth Landscaping Company for the three summer months. Show total amounts by month and in total for the three-month period. Green Earth Landscaping CompanyAdministrative Expense BudgetFor the Summer Months   June July August Total           Salaries $fill in the blank 532c4bfc1f8bfa8_1 $fill in the blank 532c4bfc1f8bfa8_2 $fill in the blank 532c4bfc1f8bfa8_3 $fill in the blank 532c4bfc1f8bfa8_4 Insurance fill in the blank 532c4bfc1f8bfa8_5 fill in the blank 532c4bfc1f8bfa8_6 fill in…

Q.prepare Nonmanufacturing costs budget for april.

Direct Labor Cost Budget Ace Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for July for the two rackets is as follows: Junior Pro Striker Production budget 1,500 units 6,200 units Both rackets are produced in two departments, Forming and Assembly. The direct labor hours required for each racket are estimated as follows: Forming Department Assembly Department Junior 0.16 hour per unit 0.24 hour per unit Pro Striker 0.20 hour per unit 0.30 hour per unit The direct labor rate for each department is as follows: Forming Department $18.00 per hour Assembly Department $14.00 per hour Prepare the direct labor cost budget for July.

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Preparing an Overhead Budget Patrick Inc. makes industrial solvents. Budgeted direct labor hours for the first 3 months of the coming year are: January 13,140 February 12,300 March 15,075 The variable overhead rate is $0.70 per direct labor hour. Fixed overhead is budgeted at $2,850 per month. Required: Prepare an overhead budget for the months of January, February, and March, as well as the total for the first quarter. Do not include a multiplication symbol as part of your answer. Round total variable overhead and total overhead to the nearest dollar. Patrick Inc. Overhead Budget For the Coming First Quarter Overhead: January February March Total Total direct labor hrs fill in the blank 1 fill in the blank 2 fill in the blank 3 fill in the blank 4 Variable overhead rate $fill in the blank 5 $fill in the blank 6 $fill in the blank 7 $fill in the blank 8 Total variable overhead $fill in the blank 9 $fill in the blank 10 $fill in the blank 11 $fill in the…

Preparing an Overhead Budget Patrick Inc. makes industrial solvents. Budgeted direct labor hours for the first 3 months of the coming year are: January 13,140 February 12,300 March 15,075 The variable overhead rate is $0.60 per direct labor hour. Fixed overhead is budgeted at $2,580 per month. Required: Prepare an overhead budget for the months of January, February, and March, as well as the total for the first quarter. Do not include a multiplication symbol as part of your answer. Round total variable overhead and total overhead to the nearest dollar. Patrick Inc. Overhead Budget For the Coming First Quarter Overhead: January February March Total Total direct labor hrs Variable overhead rate Total variable overhead $4 Add: Fixed overhead Total overhead

Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,300 units (solar panels) in July and 5,400 units in August. Each unit requires 4 hours of direct labor at a rate of $20 per hour. Prepare a direct labor budget for July. Units to produce MIAMI SOLAR Direct Labor Budget Direct labor hours needed Cost of direct labor July 4,300

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Preparing an Accounts Payable Schedule Wight Inc. purchases raw materials on account for use in production. The direct materials purchases budget shows the following expected purchases on account: April $374,400 May 411,100 June 416,700 Wight typically pays 25% on account in the month of billing and 75% the next month. Required: 1. How much cash is required for payments on account in May? 2. How much cash is expected for payments on account in June?

Preparing an Overhead Budget Patrick Inc. makes industrial solvents. Budgeted direct labor hours for the first 3 months of the coming year are: January 13,140 February 12,300 March 15,075 The variable overhead rate is $0.70 per direct labor hour. Fixed overhead is budgeted at $2,910 per month. Required: Prepare an overhead budget for the months of January, February, and March, as well as the total for the first quarter. Do not include a multiplication symbol as part of your answer. Round total variable overhead and total overhead to the nearest dollar.Overhead:JanuaryFebruaryMarchTotalTotal direct labor hrsfill in the blank 1fill in the blank 2fill in the blank 3fill in the blank 4Variable overhead rate$fill in the blank 5$fill in the blank 6$fill in the blank 7$fill in the blank 8Total variable overhead$fill in the blank 9$fill in the blank 10$fill in the blank 11$fill in the blank 12Add: Fixed overheadfill in the blank 13fill in the blank 14fill in the blank 15fill in the…

Homework problem #5: Chap 0 moldong rowemoll Probe Corporation is preparing its manufacturing overhead budget. The company uses directo labor-hours as its overhead allocation base. The direct labor budget for the upcoming quarter is as follows: Budgeted direct labor-hours April 490 May 770 June 660 The company's variable manufacturing overhead rate is $1.60 per direct labor hour and the company's fixed manufacturing overhead is $3,000 per month. The only noncash item included per month. in fixed manufacturing overhead is depreciation, which is $600 Prepare the company's manufacturing overhead budget for the upcoming fiscal year. wad ton bib sterol sup

Q.Prepare  Revenues budget for April.

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Preparing an Overhead Budget Patrick Inc. makes industrial solvents. Budgeted direct labor hours for the first 3 months of the coming year are: January 13,140 February 12,300 March 15,075 The variable overhead rate is $0.70 per direct labor hour. Fixed overhead is budgeted at $2,890 per month. Required: Prepare an overhead budget for the months of January, February, and March, as well as the total for the first quarter. Do not include a multiplication symbol as part of your answer. Round total variable overhead and total overhead to the nearest dollar. Overhead: January February March Total Total direct labor hrs fill in the blank 1 fill in the blank 2 fill in the blank 3 fill in the blank 4 Variable overhead rate $fill in the blank 5 $fill in the blank 6 $fill in the blank 7 $fill in the blank 8 Total variable overhead $fill in the blank 9 $fill in the blank 10 $fill in the blank 11 $fill in the blank 12 Add: Fixed overhead fill in the blank 13 fill in the…

Budget performance report for a cost center GHT Tech Inc. sells electronics over the Internet. The Consumer Products Division is organized as a cost center. The budget for the Consumer Products Division for the month ended July 31 is as follows: Line Item Description Customer service salaries Insurance and property taxes Distribution salaries Marketing salaries Engineer salaries 836,850 586,110 185,120 Total $4,167,050 During July, the costs incurred in the Consumer Products Division were as follows: Warehouse wages Equipment depreciation Line Item Description Customer service salaries Insurance and property taxes Distribution salaries Marketing salaries Engineer salaries Warehouse wages Equipment depreciation Total Required: Question Content Area Line Item Description Customer service salaries Insurance and property taxes Distribution salaries Amount $546,840 114,660 872,340 1,025,130 1. Prepare a budget performance report for the director of the Consumer Products Division for the…