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IMPORTANT: I HAVE SOLVED OTHER WORKSHEETS MYSELF WITH THE ATTACHMENT, I JUST NEED HELP STARTING FROM MANUFACTORING OVERHEAD BUDGET TO THE REST, PLEASE AND THANK YOU I WOULD BE GRATEFUL AND APPRECIATE YOUR HELP Manufacturing Overhead Budget January - June                 Variable Overhead (per DLH)               January February March April May June Totals Indirect Materials (per DLH)  $             1.00  $             1.00  $             1.00  $             1.00  $             1.00  $             1.00  $               6.00 Indirect Labor (per DLH)  $             1.40  $             1.40  $             1.40  $             1.40  $             1.40  $             1.40  $               8.40 Utilities (per DLH)  $             0.10  $             0.10  $             0.10  $             0.10  $             0.10  $             0.10  $               0.60 Maintenance (per DLH)  $             0.30  $             0.30  $             0.30  $             0.30  $             0.30  $             0.30  $               1.80 Total Variable MOH per DL Hour  $             2.80  $             2.80  $             2.80  $             2.80  $             2.80  $             2.80  $             16.80 Total Direct Labor Hours 129 199 185 376 399 390 1678 Total Variable Overhead  $         360.50  $         556.50  $         518.00  $      1,053.50  $      1,118.25  $      1,092.00  $        4,698.75                 Fixed Overhead (monthly costs)             Utilities  $         800.00  $         800.00  $         800.00  $         800.00  $         800.00  $         800.00  $        4,800.00 Maintenance  $         400.00  $         400.00  $         400.00  $         400.00  $         400.00  $         400.00  $        2,400.00 Supervisory Salaries  $      2,500.00  $      2,500.00  $      2,500.00  $      2,500.00  $      2,500.00  $      2,500.00  $      15,000.00 Depreciation              $                   -   Property Taxes              $                   -   Total Fixed Overhead  $      3,700.00  $      3,700.00  $      3,700.00  $      3,700.00  $      3,700.00  $      3,700.00  $      22,200.00                 Total Overhead Per Month  $      4,060.50  $      4,256.50  $      4,218.00  $      4,753.50  $      4,818.25  $      4,792.00  $      26,898.75 Direct Labor Hours 129 199 185 376 399 390 1678                 MOH Rate per direct labor hour            $             16.03       Cost Per Unit Calculation                 Direct Materials: Quantity  Cost  Total            wood 23  $          0.30  $     6.90            wheels 206  $          0.10  $   20.60         Direct Labor Cost      $        -           Total Overhead Cost    $        16.03  $        -               Total Unit Cost       $   27.50                                          Total Unit Cost      $        27.50           Number of Trains Sold (Jan-June)   6650           Cost of Goods Sold    $    182,875                 Selling and Administrative Budget January - June                 Months January February March April May June Totals Advertising

IMPORTANT: I HAVE SOLVED OTHER WORKSHEETS MYSELF WITH THE ATTACHMENT, I JUST NEED HELP STARTING FROM MANUFACTORING OVERHEAD BUDGET TO THE REST, PLEASE AND THANK YOU I WOULD BE GRATEFUL AND APPRECIATE YOUR HELP Manufacturing Overhead Budget January - June                 Variable Overhead (per DLH)               January February March April May June Totals Indirect Materials (per DLH)  $             1.00  $             1.00  $             1.00  $             1.00  $             1.00  $             1.00  $               6.00 Indirect Labor (per DLH)  $             1.40  $             1.40  $             1.40  $             1.40  $             1.40  $             1.40  $               8.40 Utilities (per DLH)  $             0.10  $             0.10  $             0.10  $             0.10  $             0.10  $             0.10  $               0.60 Maintenance (per DLH)  $             0.30  $             0.30  $             0.30  $             0.30  $             0.30  $             0.30  $               1.80 Total Variable MOH per DL Hour  $             2.80  $             2.80  $             2.80  $             2.80  $             2.80  $             2.80  $             16.80 Total Direct Labor Hours 129 199 185 376 399 390 1678 Total Variable Overhead  $         360.50  $         556.50  $         518.00  $      1,053.50  $      1,118.25  $      1,092.00  $        4,698.75                 Fixed Overhead (monthly costs)             Utilities  $         800.00  $         800.00  $         800.00  $         800.00  $         800.00  $         800.00  $        4,800.00 Maintenance  $         400.00  $         400.00  $         400.00  $         400.00  $         400.00  $         400.00  $        2,400.00 Supervisory Salaries  $      2,500.00  $      2,500.00  $      2,500.00  $      2,500.00  $      2,500.00  $      2,500.00  $      15,000.00 Depreciation              $                   -   Property Taxes              $                   -   Total Fixed Overhead  $      3,700.00  $      3,700.00  $      3,700.00  $      3,700.00  $      3,700.00  $      3,700.00  $      22,200.00                 Total Overhead Per Month  $      4,060.50  $      4,256.50  $      4,218.00  $      4,753.50  $      4,818.25  $      4,792.00  $      26,898.75 Direct Labor Hours 129 199 185 376 399 390 1678                 MOH Rate per direct labor hour            $             16.03       Cost Per Unit Calculation                 Direct Materials: Quantity  Cost  Total            wood 23  $          0.30  $     6.90            wheels 206  $          0.10  $   20.60         Direct Labor Cost      $        -           Total Overhead Cost    $        16.03  $        -               Total Unit Cost       $   27.50                                          Total Unit Cost      $        27.50           Number of Trains Sold (Jan-June)   6650           Cost of Goods Sold    $    182,875                 Selling and Administrative Budget January - June                 Months January February March April May June Totals Advertising

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter8: Budgeting For Planning And Control
Section: Chapter Questions
Problem 26E: Ingles Corporation is a manufacturer of tables sold to schools, restaurants, hotels, and other...
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IMPORTANT: I HAVE SOLVED OTHER WORKSHEETS MYSELF WITH THE ATTACHMENT, I JUST NEED HELP STARTING FROM MANUFACTORING OVERHEAD BUDGET TO THE REST, PLEASE AND THANK YOU I WOULD BE GRATEFUL AND APPRECIATE YOUR HELP

Manufacturing Overhead Budget
January - June
               
Variable Overhead (per DLH)            
  January February March April May June Totals
Indirect Materials (per DLH)  $             1.00  $             1.00  $             1.00  $             1.00  $             1.00  $             1.00  $               6.00
Indirect Labor (per DLH)  $             1.40  $             1.40  $             1.40  $             1.40  $             1.40  $             1.40  $               8.40
Utilities (per DLH)  $             0.10  $             0.10  $             0.10  $             0.10  $             0.10  $             0.10  $               0.60
Maintenance (per DLH)  $             0.30  $             0.30  $             0.30  $             0.30  $             0.30  $             0.30  $               1.80
Total Variable MOH per DL Hour  $             2.80  $             2.80  $             2.80  $             2.80  $             2.80  $             2.80  $             16.80
Total Direct Labor Hours 129 199 185 376 399 390 1678
Total Variable Overhead  $         360.50  $         556.50  $         518.00  $      1,053.50  $      1,118.25  $      1,092.00  $        4,698.75
               
Fixed Overhead (monthly costs)            
Utilities  $         800.00  $         800.00  $         800.00  $         800.00  $         800.00  $         800.00  $        4,800.00
Maintenance  $         400.00  $         400.00  $         400.00  $         400.00  $         400.00  $         400.00  $        2,400.00
Supervisory Salaries  $      2,500.00  $      2,500.00  $      2,500.00  $      2,500.00  $      2,500.00  $      2,500.00  $      15,000.00
Depreciation              $                   -  
Property Taxes              $                   -  
Total Fixed Overhead  $      3,700.00  $      3,700.00  $      3,700.00  $      3,700.00  $      3,700.00  $      3,700.00  $      22,200.00
               
Total Overhead Per Month  $      4,060.50  $      4,256.50  $      4,218.00  $      4,753.50  $      4,818.25  $      4,792.00  $      26,898.75
Direct Labor Hours 129 199 185 376 399 390 1678
               
MOH Rate per direct labor hour            $             16.03

 

 

 

Cost Per Unit Calculation
               
Direct Materials: Quantity  Cost  Total        
   wood 23  $          0.30  $     6.90        
   wheels 206  $          0.10  $   20.60        
Direct Labor Cost      $        -          
Total Overhead Cost    $        16.03  $        -          
    Total Unit Cost       $   27.50        
               
               
 Total Unit Cost      $        27.50          
Number of Trains Sold (Jan-June)   6650          
Cost of Goods Sold    $    182,875          

 

 

 

Selling and Administrative Budget
January - June
               
Months January February March April May June Totals
Advertising              $                   -  
Office Salaries              $                   -  
Depreciation              $                   -  
Property Taxes              $                   -  
Total  $                 -    $                 -    $                 -    $                 -    $                 -    $                 -    $                   -  
Sales Budget January - June January February March April 800 500 Unit Selling Price $ 30 $ 30 $ Total Budgeted Sales $15,000 $24,000 Month Budgeted Unit Sales Expected Unit Sales ADD: Desired Ending Finished Goods inventory Total Required Units Less: Beginning Finshed Goods Inventory Required Production Units Wood: Units to be produced (from production budget) Direct materials per unit Total board feet needed for production Add: desired ending inventory Total materials Required Less: beginning Inventory Required Material Purchases cost per board foot total cost of wood Purchases Wheels: Units to be produced (from production budget) Direct materials per unit Total wheels needed for production Add: desired ending inventory Total materials Required Less: beginning Inventory Required Material Purchases cost per wheel total cost of wheel Purchases Total cost of Direct material Purcahses Units to be produced (from production budget) direct Labor Hours Per Unit Total Required DL Hours Cost Per DL Hour Total Monthly DL Cost Production Budget January - June 700 1500 30 $ 30 $ 500 40 540 $21,000 $45,000 $48,000 25 $ 515 795 Direct Materials Budget January - June January February March April May 1,500 1,600 80 78 1,580 1,678 January February 515 0.3 155 36 190 23 $20 $2,575 800 35 835 40 January February 515 795 4 4 2060 3180 318 296 2378 3476 206 318 2172 January February 515 795 0.25 0.25 129 795 0.3 239 33 272 36 236 199 $20 $3,975 700 75 775 March May March 35 740 March 740 0.25 185 $20 $3,700 740 4 2960 602 3562 296 3266 1600 30 $ April 1,505 75 April 1505 0.25 376 3158 $0.10 $0.10 $0.10 $0.10 217 $ 316 $ 327 $ 606 $ $20 June 452 72 523 68 May 1505 1598 0.3 0.3 479 70 456 $3 740 0.3 222 68 290 33 167 256 478 $3 $3 $3 $3 $ 501 $ 708 $ 769 $ 1,367 $ 1,433 $ 1,418 $6,196 6020 639 6659 602 6057 1550 30 $ $46,500 $ 199,500 1,598 May 80 1598 0.25 399 549 72 $20 $7,525 $7,988 Totals June 6390 624 7014 639 6375 1,550 87.5 1,638 April May June 1505 1598 4 4 1,560 78 June June 1560 0.3 468 75 543 70 1560 4 $ 719 $ 1,024 $1,096 $1,973 $2,070 $ 2,046 $8,927 Direct Labor Budget January - June 6240 665 6905 624 1560 0.25 390 6650 30 Totals 6,650 2089 23 473 2065 $3 $ 3 ▼ 6,650 25 6,625 $20 $7,800 $ Totals 6713 0.3 6281 27309 $0.10 $0.10 $0.10 638 $ 628 $2,731 2014 75 Totals 6713 4 26850 665 27515 206 Totals 6713 1.5 1678 $120 33,563
Transcribed Image Text:Sales Budget January - June January February March April 800 500 Unit Selling Price $ 30 $ 30 $ Total Budgeted Sales $15,000 $24,000 Month Budgeted Unit Sales Expected Unit Sales ADD: Desired Ending Finished Goods inventory Total Required Units Less: Beginning Finshed Goods Inventory Required Production Units Wood: Units to be produced (from production budget) Direct materials per unit Total board feet needed for production Add: desired ending inventory Total materials Required Less: beginning Inventory Required Material Purchases cost per board foot total cost of wood Purchases Wheels: Units to be produced (from production budget) Direct materials per unit Total wheels needed for production Add: desired ending inventory Total materials Required Less: beginning Inventory Required Material Purchases cost per wheel total cost of wheel Purchases Total cost of Direct material Purcahses Units to be produced (from production budget) direct Labor Hours Per Unit Total Required DL Hours Cost Per DL Hour Total Monthly DL Cost Production Budget January - June 700 1500 30 $ 30 $ 500 40 540 $21,000 $45,000 $48,000 25 $ 515 795 Direct Materials Budget January - June January February March April May 1,500 1,600 80 78 1,580 1,678 January February 515 0.3 155 36 190 23 $20 $2,575 800 35 835 40 January February 515 795 4 4 2060 3180 318 296 2378 3476 206 318 2172 January February 515 795 0.25 0.25 129 795 0.3 239 33 272 36 236 199 $20 $3,975 700 75 775 March May March 35 740 March 740 0.25 185 $20 $3,700 740 4 2960 602 3562 296 3266 1600 30 $ April 1,505 75 April 1505 0.25 376 3158 $0.10 $0.10 $0.10 $0.10 217 $ 316 $ 327 $ 606 $ $20 June 452 72 523 68 May 1505 1598 0.3 0.3 479 70 456 $3 740 0.3 222 68 290 33 167 256 478 $3 $3 $3 $3 $ 501 $ 708 $ 769 $ 1,367 $ 1,433 $ 1,418 $6,196 6020 639 6659 602 6057 1550 30 $ $46,500 $ 199,500 1,598 May 80 1598 0.25 399 549 72 $20 $7,525 $7,988 Totals June 6390 624 7014 639 6375 1,550 87.5 1,638 April May June 1505 1598 4 4 1,560 78 June June 1560 0.3 468 75 543 70 1560 4 $ 719 $ 1,024 $1,096 $1,973 $2,070 $ 2,046 $8,927 Direct Labor Budget January - June 6240 665 6905 624 1560 0.25 390 6650 30 Totals 6,650 2089 23 473 2065 $3 $ 3 ▼ 6,650 25 6,625 $20 $7,800 $ Totals 6713 0.3 6281 27309 $0.10 $0.10 $0.10 638 $ 628 $2,731 2014 75 Totals 6713 4 26850 665 27515 206 Totals 6713 1.5 1678 $120 33,563
Toodle Train Company makes toy trains for children. The trains are made of painted wood with rubber wheels that really turn. The budget for unit sales for the first half of 2010: January February March April May June 500 800 700 1500 1600 1550 Toodle expects July sales to be 1,750 units. Each train sells for $30. There were 25 trains in Inventory on December 31, 2010. It is the company's policy to maintain a finished goods inventory at the end of each month equal to 5% of next month's anticipated sales. Each train requires two types of direct materials: wood and wheels. At December 31, 2010 there was 23 board feet of wood and 206 wheels on hand. Material Wood Wheels Units used per train .3 board feet Cost per unit $3 per board foot 15% * next month's use 4 wheels $ 0.10 per wheel 10%* next month's use Each train requires 25 direct labor hours to produce. The average hourly wage including benefits is $20 per hour. Desired Ending Inventory Manufacturing Overhead costs for Toodle Train Company are as follows: Indirect Materials $1.00 per direct labor hour Indirect Labor $1.40 per direct labor hour Utilities .10 per direct labor hour and $800 per month .03 per direct labor hour and $400 per month $2,500 per month $1500 per month $80 per month Maintenance Supervisory Salaries Depreciation Property Taxes Selling and Administrative Expenses are as follows: Advertising Office Salaries $2,500 per month $1,800 per month Depreciation $75 per month Property Taxes $50 per month (continued) 10% of sales are for cash; the rest are sold on account. 70% of sales on account are collected in the month following the sale, 20% in the next month and 10% in the following month. So far, Toodle Train has had no trouble with collecting all Accounts Receivable. Direct materials are all purchased on account and paid for in the month following the purchase. Manufacturing overhead, direct labor and selling and administrative expenses are paid in the month they occur. Accounts Payable on December 31, 2010 was $400. Toodle Train Company currently has no debt. The cash balance December 31, 2010 was $9,000 and company policy is to keep cash balance of at least $5,000. If the line of credit must be used, interest of 1% per month is paid in the following month on the balance of the line of credit at the end of the prior month.
Transcribed Image Text:Toodle Train Company makes toy trains for children. The trains are made of painted wood with rubber wheels that really turn. The budget for unit sales for the first half of 2010: January February March April May June 500 800 700 1500 1600 1550 Toodle expects July sales to be 1,750 units. Each train sells for $30. There were 25 trains in Inventory on December 31, 2010. It is the company's policy to maintain a finished goods inventory at the end of each month equal to 5% of next month's anticipated sales. Each train requires two types of direct materials: wood and wheels. At December 31, 2010 there was 23 board feet of wood and 206 wheels on hand. Material Wood Wheels Units used per train .3 board feet Cost per unit $3 per board foot 15% * next month's use 4 wheels $ 0.10 per wheel 10%* next month's use Each train requires 25 direct labor hours to produce. The average hourly wage including benefits is $20 per hour. Desired Ending Inventory Manufacturing Overhead costs for Toodle Train Company are as follows: Indirect Materials $1.00 per direct labor hour Indirect Labor $1.40 per direct labor hour Utilities .10 per direct labor hour and $800 per month .03 per direct labor hour and $400 per month $2,500 per month $1500 per month $80 per month Maintenance Supervisory Salaries Depreciation Property Taxes Selling and Administrative Expenses are as follows: Advertising Office Salaries $2,500 per month $1,800 per month Depreciation $75 per month Property Taxes $50 per month (continued) 10% of sales are for cash; the rest are sold on account. 70% of sales on account are collected in the month following the sale, 20% in the next month and 10% in the following month. So far, Toodle Train has had no trouble with collecting all Accounts Receivable. Direct materials are all purchased on account and paid for in the month following the purchase. Manufacturing overhead, direct labor and selling and administrative expenses are paid in the month they occur. Accounts Payable on December 31, 2010 was $400. Toodle Train Company currently has no debt. The cash balance December 31, 2010 was $9,000 and company policy is to keep cash balance of at least $5,000. If the line of credit must be used, interest of 1% per month is paid in the following month on the balance of the line of credit at the end of the prior month.
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