Fantastic Cement Manufacturing Company expects from you to calculate and present the master budget for the year 2020 from the following information? 1. Sales budget: Type 1 cement Br400, 000 Type 2 Cement Br600, 000 2. Production costs budget: Direct material cost 70% of sales Direct wages Br 50,000 3. Manufacturing overhead budget : Fixed manufacturing overhead Br 24,000 Variable manufacturing overhead Br 36,000 4. Total Operating expenses budget Br 30,000 Required: prepare a Master Budget for Fantastic Company for Year 2020 and show the expected net profit by considering the above data only

Fantastic Cement Manufacturing Company expects from you to calculate and present the master budget for the year 2020 from the following information? 1. Sales budget: Type 1 cement Br400, 000 Type 2 Cement Br600, 000 2. Production costs budget: Direct material cost 70% of sales Direct wages Br 50,000 3. Manufacturing overhead budget : Fixed manufacturing overhead Br 24,000 Variable manufacturing overhead Br 36,000 4. Total Operating expenses budget Br 30,000 Required: prepare a Master Budget for Fantastic Company for Year 2020 and show the expected net profit by considering the above data only

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter9: Profit Planning And Flexible Budgets

Section: Chapter Questions

Problem 51E

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Kobe, Inc. had the following information relating to 2020. Budgeted factory overhead ₱ 74,800 Actual factory overhead ₱ 78,300 Applied factory overhead ₱ 76,500 Estimated labor hours 44,000 If Kobe decides to use the actual results from 2020 to determine the 2021 overhead rate, what will the 2021 overhead rate be? Show solution Group of answer choices ₱1.779 ₱1.740 ₱1.650 ₱1.738
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A https://camdenccinstructure.com/courses/3788/assignmen * QuestionTO ces View Policies ions Current Attempt in Progress 5 Support The master budget of Waterway Industries shows that the planned activity level for next year is expected to be 50000 machine hours. At this level of activity, the following manufacturing overhead costs are expected: al Indirect labor $820000 Machine supplies 280000 Indirect materials 310000 Depreciation on factory building 250000 Total manufacturing overhead $1660000 A flexible budget for a level of activity of 60000 machine hours would show total manufacturing overhead costs of $1942000. O $1992000. O $1742000. $1660000.
Ma 1 Prepare a PLANNED BUDGET for the month of December 2022 for your imaginary company assuming any level of activity. Prepare a SUMMARY OF ACTUAL RESULTS for the month of December 2022 for your imaginary company assuming any level of activity different from planned level of activity. That means, if you prepare a planned budget for 1000 units, your actual results should be for more than or less than 1000 units. Prepare a FLEXIBLE BUDGET for the actual level of activity for the month of December 2022 for your imaginary company. Prepare a PERFORMANCE REPORT (by comparing actual results with flexible budget) and shows therein REVENUE AND SPENDING VARIANCES.
1. AL Jamat Inc. is preparing its annual budgets for the year ending December 31, 2020.Accounting assistants furnish the data shown below. Detail Product AProduct C Sales Budget Anticipated Volume in units Unit Selling price Production Budget: Desired ending finished goods units Beginning finished goods units Direct materials budget: Direct materials per unit (pounds) Desired ending direct materials pounds Beginning direct materials pounds Cost per pound Direct labor budget: Direct labor time per unit Direct labor rate per hour Budgeted income statement: Total unit cost 40500 20500 55 45 2500 1500 3000 1000 20 30 3000 1500 4000 1000 3 0.4 0.6 122 155 122 222 has prepared An accounting assistant manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $645,000 for product A and $345,000 for product C, and administrative expenses of $545,000 for product A and $345,000 for product C. Income taxes are expected to be the detailed…
a) Why do successful companies tend to use the bottom-up approach to establish a master budget? b) Green Tea’s data show the following information for the financial year, beginning July 2020: July Aug. Sept. Oct. Nov. Estimated sales (units) 25,000 25,000 27,000 27,500 28,000 Sales price per unit $31 $31 $31 $31 $31 Direct labour per unit $1.75 $1.75 $1.50 $1.50 $1.50 Labour rate per hour $21 $21 $24 $24 $24 New machinery will be added in September. This machine will reduce the labour required per unit and increase the labour rate for those employees qualified to operate the machinery. Finished goods inventory is required to be 20% of the next month’s requirements. Direct material requires 2.5 kg per unit at a cost of $5 per kg. The ending inventory required for direct materials is 20% of the next month’s needs. In July, the beginning inventory is 3,750 units of finished goods and 13,125 kg of…
Current Attempt in Progress The master budget of Waterway Industries shows that the planned activity level for next year is expected to be 50000 machine hours. At this level of activity, the following manufacturing overhead costs are expected: Indirect labor $790000 Machine supplies 280000 Indirect materials 230000 Depreciation on factory 160000 building Total manufacturing overhead $1460000 A flexible budget for a level of activity of 60000 machine hours would show total manufacturing overhead costs of O $1752000. O $1592000. O $1720000. O $1460000. SUPPO