1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Goshia [24]
3 years ago
9

Ramos Co. provides the following sales forecast and production budget for the next four months: April May June July Sales (units

) 510 590 540 610 Budgeted production (units) 450 580 550 550 The company plans for finished goods inventory of 130 units at the end of June. In addition, each finished unit requires 6 pounds of direct materials and the company wants to end each month with direct materials inventory equal to 25% of next month’s production needs. Beginning direct materials inventory for April was 675 pounds. Direct materials cost $3 per pound. Each finished unit requires 0.60 hours of direct labor at the rate of $17 per hour. The company budgets variable overhead at the rate of $21 per direct labor hour and budgets fixed overhead of $8,100 per month. 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget for April, May, and June.
Business
2 answers:
Ronch [10]3 years ago
7 0

Answer:

1) Direct Labor Budget               April           May         June         July

production                                   450           580          550          550

* hours per unit                          0.60           0.60         0.60          0.60

= hours worked                          270           348            330             330

 * rate                                          $17            $17             $17              $17

Direct Labor Cost                   $4,590       $5,916         $5,610       $5,610

2) Factory overhead budget

Variable overhead                  $5,670        $7,308         $6,930

Fixed overhead                      $8,100         $8,100          $8,100

Total overhead budget         $13,770        $15,408        $15,030

Explanation:

Variable overhead = ( direct labor hour * $21)

April = ( 270 * $21) = 5,670

May = ( 348 * $21) = 7,308

June = ( 330 *$21) = 6,930

True [87]3 years ago
4 0

Answer:(1) April $4,590, May $5,916, June $5,610, July $5,610 (2) April $17,550, May $20,280, June $19,650

Explanation:

Direct Labour Budget

April. May. June. July

Budgeted production 450. 580. 550. 550

× Direct Labour hour. 0.60. 0.60. 0.60. 0.60

------------ -------------- ------------- ---------------

Budgeted Direct Labour

Hour. 270. 348. 330. 330

× Cost per Direct Labour

Hour. 17. 17. 17. 17

------------ ------------ ------------ ------------

Budgeted Direct Labour

Cost. 4,590. 5,916. 5,610. 5,610

------------- ------------ ------------- -------------

Factory Overhead Budget

April. May. June

Budgeted production 450. 580. 550

× Variable overhead rate 21. 21. 21

----------- -------------- ------------

Total variable overhead. 9,450. 12,180. 11,550

Fixed overhead. 8,100. 8,100. 8,100

------------- ---------------- ---------------

Total Factory Overhead. 17,550. 20,280. 19,650

--------------- ------------------ -----------------

You might be interested in
Jenny is a line manager at Maxvin Corp. She is assigned the task of understanding and gathering detailed information about the r
ioda

Answer: Option (D)

Explanation:

Job analysis is also referred to as work analysis is known as a family or group of procedures or process taken in order to identify composition of any job in regards with the activities indulged and also job requirements or attributes needed in order to perform these activities. Job analysis tends to provide information of company that helps to evaluate which individual is the best fit for a particular jobs.

7 0
3 years ago
what would the length of time you have had a checking or savings account help determine your credit score?
GenaCL600 [577]

It shows a pattern of responsibility.

If you have only had accounts for 1 month, it doesn't really give a full picture of whether or not you always make your payments on time, etc. However if you have had accounts for 20 years, creditors have more history to look through to determine if you are responsible.

Keep in mind, checking and savings accounts are not the primary type of accounts that creditors want to look at because those only deal with spending money you already have. Lenders really want to know how you handle money that you <em>borrow</em>, such as school loans, credit cards, rent payments, and auto loans.

8 0
3 years ago
18. The following gifts are received in 2016 by a not-for-profit entity: I. $2,000 specified by the donor to be used to pay sala
xeze [42]

Answer:

$7,000

Explanation:

Increase in Temporarily Restricted Net Assets = $2,000 + $10,000 + $5,000 = $17,000

Net increase in Temporarily Restricted Net Assets = Increase in Temporarily Restricted Net Assets - Amount of the conference room furniture purchased = $17,000 - $10,000 = $7,000

Note that the conference room furniture purchased is deducted because the donor did not stipulate a time restriction on holding the furniture.

Therefore, total amount should be recorded as an increase to Temporarily Restricted Net Assets is $7,000.

 

4 0
3 years ago
The strategy of setting a single price for two or more units is known as
jekas [21]
Is known as multiple- unit pricing.
8 0
3 years ago
Read 2 more answers
During its first year of operations, Mack's Plumbing Supply Co. had sales of $550,000, wrote off $8,800 of accounts as uncollect
vova2212 [387]

Answer:

$60,500

Explanation:

With regards to the above, the write off does not affect the realizable value of accounts receivables. Also, the total asset or net income is not affected by the write off or specific account. Instead, both assets and net income are affected in the period when bad debt expense is predicted and then recorded with an adjusting entry.

Accounts receivables

$550,000

Less:

Allowance for doubtful account

($550,00 × 2.5%)

($13,750)

Estimated realizable accounts receivables

$536,250

If the amount of bad debt decreases or increases as given below, then the income is also increased or decreased by the amount given.

Bad debts = $13,750

Uncollectible previously written off = $8,800

Difference

$4,950

Net income

$60,500

Less:

Difference

($4,950)

Reported income

$55,550

3 0
3 years ago
Other questions:
  • If a nation is going to achieve and sustain a high rate of economic growth, it must prohibit low-wage foreign producers from sup
    8·2 answers
  • Research suggests that, on average, acquisitions increased the market value of target firms by about ________ percent and ______
    5·1 answer
  • Human capital is
    14·1 answer
  • Adam smith believed the invisible hand would do what for the economy?
    8·1 answer
  • Using his skateboard, Edgar can travel 8 miles in 2 hours while his brother, Johnathon, can
    13·1 answer
  • Global Services is considering a promotional campaign that will increase annual credit sales by $570,000. The company will requi
    15·1 answer
  • Find the no-arbitrage cross exchange rate. The dollar-euro exchange rate is quoted as $1.60 = €1.00 and the dollar-yen exchange
    15·1 answer
  • Evaluating your data involves examining it in terms of reliability, relevance, expertise, adaptability, and biases.
    12·1 answer
  • LETTER<br>AN EXAMPLE OF A BUSINESS<br>bire me​
    10·1 answer
  • Which is an example of qualitative investment research?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!