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Orlov [11]
3 years ago
10

First​ Class, Inc., expects to sell 22,000 pool cues for $12.00 each. Direct materials costs are $4.00​, direct manufacturing la

bor is $6.00​, and manufacturing overhead is $0.84 per pool cue. The following inventory levels apply to​ 2019: Beginning inventory Ending inventory Direct materials 26,000 units 26,000 units Work−in−process inventory 0 units 0 units Finished goods inventory 1,000 units 2,900 units What are the 2019 budgeted costs for direct​ materials, direct manufacturing​ labor, and manufacturing​ overhead, respectively?
Business
1 answer:
MatroZZZ [7]3 years ago
3 0

Answer:

budgeted costs for direct​ materials

  • $88,000

budgeted direct manufacturing​ labor

  • $132,000

budgeted manufacturing​ overhead

  • $18,480

Explanation:

Direct materials costs are $4.00 per pool cue.

Direct manufacturing labor is $6.00​ per pool cue.

Manufacturing overhead is $0.84 per pool cue.

total budgeted direct materials = 22,000 x $4 = $88,000

total budgeted direct labor = 22,000 x $6 = $132,000

total budgeted manufacturing overhead = 22,000 x $0.84 = $18,480

The information about the beginning and ending inventories is not relevant to this question since it only deals with budgeted or estimated costs which may or may not differ from actual costs.

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Following are selected transactions for Vitalo Company. Nov. 1 Accepted a $6,000, 180-day, 8% note dated November 1 from Kelly W
umka21 [38]

Answer:

<u>As at April 30</u>

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Dr. Bank..............................................................................................$6,483

Cr. Accounts Receivable ($6000 note receivable + $163 + $320)...$6,483

Being settlement of note receivable with total accrued interest Income

Explanation:

Following are selected transactions for Vitalo Company.

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Dr. Account Receivable (61 days /180 days x 6000 x 0.08) ..$163

Cr. Interest Income......................................................................................$163

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<u>As at April 30</u>

Dr. Account Receivable (120 days / 180 days x 6000 x 0.08) ..$320

Cr. Interest Income......................................................................................$320

Being accrued interest Income for current year to date on note receivable

Dr. Bank..............................................................................................$6,483

Cr. Accounts Receivable ($6000 note receivable + $163 + $320)...$6,483

Being settlement of note receivable with total accrued interest Income

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