he Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarter for the u
pcoming fiscal year: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Units to be produced 11,900 10,900 12,900 13,900 Each unit requires 0.20 direct labor-hours and direct laborers are paid $15.00 per hour. In addition, the variable manufacturing overhead rate is $1.50 per direct labor-hour. The fixed manufacturing overhead is $99,000 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $39,000 per quarter. Required: 1. Calculate the company’s total estimated direct labor cost for each quarter of the the upcoming fiscal year and for the year as a whole. 2&3. Calculate the company’s total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole.
1 answer:
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Answer:
Actual Price paid for materials = $4.2136 2,200 = $9,270
Actual price per unit = $4.2136
Explanation:
Provided information,
Standard Material per unit = $4
Total cost = $8,400
Standard Quantity = $8,400/$4 = 2,100 units
Provided Material Price variance = $470 unfavorable = - $470
Material Quantity Variance = $400 Unfavorable = - $400
Using Material Quantity Variance
- $400 = (2,100 - Actual Quantity) $4
-$400/$4 = 2,100 - Actual Quantity
Actual Quantity = 2,100 + 100 = 2,200 units
Now, putting this value in Material Price Variance we have,
- $470 = ($4 - Actual Price) 2,200
-$470/2,200 = $4 - Actual Price
- $0.214 = $4 - Actual Price
Actual Price = $4 + $0.2136 = $4.2136
Final Answer
Actual Price paid for materials = $4.2136 2,200 = $9,270
Actual price per unit = $4.2136
Answer:
13.70%
Explanation:
We use the PMT formula which is to be shown in the attachment
Given that,
Present value = $1,326.50
Future value = $1,000
Rate of interest = 9.8% ÷ 2 = 4.9%
NPER = 18 years × 2 = 36 years
The formula is shown below:
= PMT(Rate;NPER;-PV;FV;type)
The present value come in negative
So, after solving this, the PMT is
= $68.48 × 2
= $136.92
Now the coupon rate is
= $136.92 ÷ $1,000
= 13.70%
