A consulting job takes 20 hours of consulting time and $180 of materials. The client’s bill would be...

Q: Employee salaries and wages" in the flexible budget for December would have been closest to:

A: Answer:   $85,200

Q: Variable rate per unit Total fixed costs Indirect materials $0.90 Supplies $0.70 Indirect labor…

A: Manufacturing overhead:   All the overhead that is incurred in making an item is called…

Q: ABC system. For the coming period, the company is planning to use 5,000 direct labor hours, and its…

A: solution 1. Using traditional cost Overhead allocation       =predetermined rate * hours of B…

Q: The total factory overhead for Big Light Company is budgeted for the year at $807,500. Big Light…

A: Solution a: Total nos of budgeted direct labor hours = (60000*0.50) + (80000*2) = 30000 + 160000…

Q: Power Pack Company expects to operate at 80% of productive capacity during July. The total…

A: To opt for an order from the government or any other organization, the first thing that a company…

Q: Aneto productions uses a predetermined overhead recovery rate based on hours. A summary of the…

A: This question deals with the calculation of budgeted level of machine hour. We have been given…

Q: The Roget Factory has determined that its budgeted factory overhead budget for the year is…

A: The question is related to Overhead Rate. The factory overhead rate is calculated on the basis of…

Q: JKL Financial Services Ltd has provided the following budget information for the coming financial…

A: Activity based costing is a type and form of costing, in which all indirect costs or overhead costs…

Q: Gardner Corporation manufactures skateboards and is in the process of preparing next year's budget.…

A: Selling price per unit: It is the price at which a unit of product is sold in the market. Variable…

Q: Accounting A company’s planned activity level for next year is expected to be 50,000 machine hours.…

A: The flexible budget is prepared to estimate the expenses at various level of production.

Q: ABC Company budgeted total variable costs at $250,400 for the current year. In addition, they…

A: Solution: Total budgeted overhead = Total variable overhead + Factory rent + Depreciation on factory…

Q: Concord Corporation provides financial consulting and has collected the following data for the next…

A: Client bill will be calculated by multiplying the consulting price per hour by 20 hours and then add…

Q: Carlos Consulting Inc. provides financial consulting and has collected the following data for the…

A: Budget is prepared at the beginning of the period based on the past performance.

Q: Smith Company budgeted total variable costs at $250,400 for the current year. In addition, they…

A: Solution: Total Budgeted overhead = $250,400 + $325,000 + $20,000 + $140,000 + $60,616 = $796,016…

Q: Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for…

A: Variable cost: It is the cost that changes with the change in level of output. e.g., Direct…

Q: Wade Company expects to produce 5,500 units of product IOA during the current year. Budgeted…

A:

Q: Skelton Corporation had planned to produce 50,000 units of product during the first quarter of the…

A: Budgets are the forecast of the expenses to be incurred and the incomes to be gain. Flexible budgets…

Q: Kerekes Manufacturing Corporation has prepared the following overhead budget for next month.…

A: There are two types of costs - Fixed cost and variable cost.   Fixed cost will not change according…

Q: Ceder Company has compiled the following data for the upcoming year: • Sales are expected to be…

A: Cost of goods sold is the sum of all the direct costs incurred by the company in the process of…

Q: Kent Corporation developed the following budgeted costs for the current year: Direct materials…

A: Direct materials: It is the basic input required to manufacture the finished products. The…

Q: he labor rate per hour i

A:

Q: Lazer Vision Corporation has two product lines: LED televisions and LCD televisions. The company has…

A: Direct labor hours defines those labor hours which are directly related in the production or…

Q: Prepare a manufacturing overhead budget using the above overhead information.

A: Budget is the estimation of future receipts and payments.

Q: Evergreen Corporation manufactures circuit boards and is in the process of preparing next year's…

A: Contribution Margin Ratio is computed by dividing the contribution by the sales and then multiplying…

Q: Pickrel Corporation is an oil well service company that measures its output by the number of wells…

A: $9,100ExplanationPlanning BudgetWells serviced (q) 27Revenue ($5,500q) $148,500Expenses:Employee…

Q: Blue Devil Inc. has a significant level of manufacturing overhead. After preparing their budget for…

A: Activity Based Costing is a technique in which different cost pools along with their cost drivers…

Q: Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for…

A: Variances refer to the difference between the actuals and standard parameters relating to…

Q: Rudick Corporation is an oil well service company that measures its output by the number of wells…

A: Activity variance for revenue = (Units sold - Planned units sold) x Revenue per unit

Q: Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for…

A: Solution: Tannin Products Inc. Factory Overhead Cost Variance Report-Trim Department For the…

Q: Craftmore Machining reports the following budgeted overhead cost and related data for this year.…

A: Overhead Rate: A cost that is allotted to the manufacturing of a product or service is referred to…

Q: The production supervisor of the Machining Department for Celtic Company agreed to the following…

A: Flexible Budget - It is a type of budget that adjusts to changes in actual revenue levels.…

Q: Sunland Company provides financial consulting and has collected the following data for the next…

A: Labor rate per hour = (Total labor cost/ Total estimated consultinghours) + profit margin per hour

Q: Kerekes Manufacturing Corporation has prepared the following overhead budget for next month.…

A: Variable cost per machine hour = ($22,040 + $36,860) / 3,800 machine hours = $15.50 per machine hour

Q: Blaster Corp. manufactures hiking boots. For the coming year the company has budgeted the following…

A: a. Calculate the budgeted sales revenue.

Q: Carlos Consulting Inc. provides financial consulting and has collected the following data for the…

A: Material Loading Charge = Total estimated material costs*Profit margin on materials + Supply clerk’s…

Q: Kerekes Manufacturing Corporation has prepared the following overhead budget for next month.…

A: Total overhead cost=Variable overhead costs+Fixed overhead costs

Q: Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for…

A: Favorable variance means the actual expenditure are lower than the budgeted expenditure.

Q: Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for…

A:

Q: Crable and Tesch, partners in a systems consulting firm, budgeted the following professional labor…

A: Answer 1:

Q: The master budget of Knope Inc. shows that the planned activity level for next year is expected to…

A: Overhead rate is the rate which is calculated by dividing total manufacturing overheads by total…

Q: Roget Factory has budgeted factory overhead for the year at $5,035,800. It plans to produce…

A: Factory overhead rates are used to calculate the applied overhead. The difference between applied…

Q: Rafner Manufacturing identified the following budgeted data in its two production departments.…

A: The overhead rate is a cost allocated to the production of a product or service. Overhead costs are…

Q: Kent Corporation developed the following budgeted costs for the current year: Direct materials…

A: Pre-determined overhead allocates rate: It is the rate of allocating the expected overheads to the…

Q: Flores Company budgeted total variable costs at P250,000 for the current year. In addition, they…

A: The predetermined overhead rate is calculated as estimated overhead cost divided by estimated base…

Q: Cycling Corporation identified the following budgeted data for this year. The company produces two…

A: Predetermined overhead rate: Predetermined overhead rate is calculated before the period begins.…

Q: material loading charge is?

A:

Q: Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for…

A:

Q: Katherin, Ltd. is developing their manufacturing overhead budget for May, which is based on budgeted…

A: Fixed overhead rate = $102,000 / 11,552 direct labor hours = $8.83 per direct labor hour Variable…

Q: Direct labor hours are estimated as 1,900 in Quarter 1; 2,000 in Quarter 2; 1,800 in Quarter 3; and…

A: Manufacturing overhead: It is the indirect costs that are incurred during the production process.

Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.