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Alona [7]
2 years ago
6

The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted d

irect labor-hours: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted direct labor-hours 9,200 8,800 9,100 9,500 The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $3.50 per direct labor-hour and its total fixed manufacturing overhead is $60,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $15,000 per quarter.
Required:
1. Prepare the company’s manufacturing overhead budget for the upcoming fiscal year.
2. Compute the company’s predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year.
Business
1 answer:
Kruka [31]2 years ago
8 0

Answer:

Results are below.

Explanation:

Giving the following information:

1st Quarter 2nd Quarter 3rd Quarter 4th

Quarter Budgeted direct labor-hours 9,200 8,800 9,100 9,500

The variable portion of its predetermined manufacturing overhead rate is $3.50 per direct labor hour.

Total fixed manufacturing overhead= $60,000

<u>First, we need to calculate the total variable and fixed overhead for the year:</u>

Total variable overhead= (9,200 + 8,800 + 9,100 + 9,500)*3.5= $128,100

Total fixed overhead= 60,000*4= $240,000

Total budgeted overhead= $368,100

<u>Now, the predetermined overhead rate:</u>

<u></u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (240,000 / 36,600) + 3.5

Predetermined manufacturing overhead rate= $10.06 per direct labor hour

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<em>Andrew Industries is contemplating issuing a 30​-year bond with a coupon rate of 7.13% ​(annual coupon​ payments) and a face value of $1,000. Andrew believes it can get a rating of A from Standard​& Poor's.​ However, due to recent financial difficulties at the​ company, Standard​ & Poor's is warning that it may downgrade Andrew​ Industries' bonds to BBB. Yields on​ A-rated, long-term bonds are currently 6.43%​, and yields on​ BBB-rated bonds are 6.84%. </em>

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