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3 years ago

Campbell Clothing produces men's ties. The following budgeted and actual amounts are for 2016:

Business

1 answer:

Elina [12.6K]3 years ago

6 0

Answer:

Campbell Clothing

Manufacturing Performance budget Report

For the year ended December 31, 2016

Budget Actual Difference

Direct materials $69,600 $71,000 $1,400 U

Direct labor $87,600 $86,500 $500 F

Equipment depreciation $5,000 $5,000 $0 Nil

Indirect labor $8,700 $8,600 $100 F

Indirect materials $10,440 $9,600 $840 F

Rent and insurance $12,000 $13,000 $1000 U

Total Costs $192,740 $193,700 $960 U

Workings

<u>Planning budget</u>

Direct materials 60,000 * $12 = $69,600

Direct labor 75,000 * $15,000 = $87,600

Equipment depreciation 5,000

Indirect labor 7,500 * $1.50 = $8,700

Indirect materials 9,000 * $1.80 = $10,440

Rent and insurance $12,000

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Kushman Industries has $40,000 of ending finished goods inventory. If beginning finished goods inventory was $20,000 and cost of

Kamila [148]

Answer:

$100,000= cost of goods manufactured

Explanation:

Giving the following information:

Kushman Industries has $40,000 of ending finished goods inventory.

Beginning finished goods inventory was $20,000

Cost of goods sold was $80,000

To calculate the cost of goods manufactured, we need to use the following formula:

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

80,000 = 20,000 + cost of goods manufactured - 40,000

$100,000= cost of goods manufactured

4 0

3 years ago

Cusic Music Company is considering the sale of a new sound board used in recording studios. The new board would sell for $24,200

inn [45]

Answer:

$31,312,440

Explanation:

Working for Net Income Calculation is attached in MS Excel File Format with this answer, Please Fins it.

Net Income = $29,977,440

As we know that the depreciation is a non cash expense, so it will be added back to the net income to calculate the Operating cash flow.

Operating Cash Flow = Net Income + Depreciation

Operating Cash Flow = $29,977,440 + 1,335,000

Operating Cash Flow = $31,312,440

Download xlsx

3 0

3 years ago

The Flapjack Corporation had 8,200 actual direct labor hours at an actual rate of $12.40 per hour. Original

mariarad [96]

Answer:

Option (C) is correct.

Explanation:

Given that,

Actual direct labor hours = 8,200

Actual rate = $12.40 per hour

Original production = 1,100 units

Actual units produced = 1,000

Labor standards = 7.6 hours per completed unit

standard rate = $13.00 per hour

Labor time variance:

= (Standard hours - Actual hours) × Standard rate

= (1,000 × 7.6 - 8,200) × $13

= 7,800 Unfavorable

3 0

3 years ago

An engineer invests $5,000 at the end of every year for a 40-year career. If the engineer wants $1 million in savings at retirem

Feliz [49]

Answer: 7%

Explanation:

Given data:

P = $5,000

r = ?

t = 40years

i = $1,000,000

Solution:

NFW = 0 = -$5000 ( F/A , i , 40 ) + $1,000,000

( F/A , i , 40 ) = $1,000,000 / $5,000

= 200

From compound interest table

( F/A , 7% , 40 ) = 199.636

Therefore the return for the investment would be 7%

5 0

3 years ago

Halt company employee material handling employees who move materials between production divisions at a labor cost of $160,000 a

Ivenika [448]

Answer:

The $12,000 is the material handling cost should be assigned to products made in March.

Thus, the correct option is a. $12,000

Explanation:

For computing how much of the material handling cost should be assigned, first we have to calculate the per pound of material. The formula is shown below:

Per pound of material = Labor cost ÷ Number of pounds

= $160,000 ÷ 800,000

= $0.2 per pound of material

Now, multiply this per pound of material with moving pounds.

In mathematically,

Material Handling cost = Per unit of pound × Moving material

= $0.2 × 60,000

=$12,000

Hence, the $12,000 is the material handling cost should be assigned to products made in March.

Thus, the correct option is a. $12,000

4 0

3 years ago