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max2010maxim [7]
3 years ago
10

Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,900 units (solar panels) in July a

nd 4,900 units in August. Each unit requires 5 hours of direct labor at a rate of $16 per hour. Variable factory overhead is budgeted to be 70% of direct labor cost, and fixed factory overhead is $180,000 per month. Prepare a factory overhead budget for August.
Business
1 answer:
Wewaii [24]3 years ago
7 0

Answer:

Overhead budget:

Variable overhead= 274,400

Fixed overhead= 180,000

Total overhead= $454,400

Explanation:

Giving the following information:

Production= 4,900 units

Each unit requires 5 hours of direct labor at a rate of $16 per hour.

Variable factory overhead is budgeted to be 70% of direct labor cost

Fixed factory overhead is $180,000 per month.

First, we need to determine the direct labor cost:

Direct labor cost= (4,900*5)*16= $392,000

Now, we can calculate the overhead budget:

Overhead budget:

Variable overhead= (0.7*392,000)= 274,400

Fixed overhead= 180,000

Total overhead= $454,400

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