Thunder Creek Company's workers require 30 minutes of labor to produce each unit of product. The labor cost is $20 per hourPrepare a Direct Labor Budget. (When entering answers in the direct labor budget, use the direct materials budget for your cell references.)2018Budget #4: Direct Labor BudgetBudgeted units to be producedDirect labor hours per unitJanFebMarQ1 Total18,00024,00030,00072,0000.500.500.500.50Direct labor hours needed for production9,00012,00015,00036,000Direct labor cost per hour20202020Budgeted direct labor cost180,000 $240,000 $300,000 | $720,000Thunder Creek Company prepares its Manufacturing Overhead Budget. For each direct labor hour, the variable overhead costs are:Indirect Materials = $1.00 per DLH; Indirect Labor Cost = $1.30 per DLH; Maintenance = $1.20 per DLHThe Fixed Overhead Costs per month are: Salaries of $40,000, Depreciation =$20,000 and Maintenance = $10,000.Prepare a Manufacturing Overhead Budget. (When entering answers in the manufacturing overhead budget, use the direct labor budget for your cell references.)Use '=ROUND' function to round the predetermined overhead allocation rate to two decimal places. Manufacturing overhead is allocated using direct labor hours.2018Budget #5: Manufacturing Overhead BudgetJanFebMarQ1 TotalBudgeted units to be producedVOH cost per unitBudgeted VOHBudgeted FOHDepreciationSalaries and maintenanceTotal budgeted FOHBudgeted manufacturing overhead costsDirect labor hours (DLHT)Predetermined overhead allocation rate per DLH.

Manufacturing Overhead budget is given below,

Prepare a Manufacturing Overhead Budget. (When entering answers in the manufacturing overhead budget, use the direct labor budget for your cell references.) Use '=ROUND' function to round the predetermined overhead allocation rate to two decimal places. Manufacturing overhead is allocated using direct labor hours.

Prepare a Manufacturing Overhead Budget. (When entering answers in the manufacturing overhead budget, use the direct labor budget for your cell references.) Use '=ROUND' function to round the predetermined overhead allocation rate to two decimal places. Manufacturing overhead is allocated using direct labor hours.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 3PB: TIB makes custom guitars and prepared the following sales budget for the second quarter It also has...

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