Domestic Olive Company makes silver belt buckles. The company's master budget appears in the first column of the table.Required:Complete the table by preparing Olive's flexible budget for 5,900, 7,900, and 8,900 units.Note: Round your intermediate calculations to 2 decimal places.Master Budget Flexible Budget Flexible Budget Flexible Budget(7,900 Units)(8,900 Units)(6,900 Units)(5,900 Units)Direct materials$690Direct labor4,140Variable manufacturing overhead1,380Fixed manufacturing overhead18,000Total manufacturing cost$24,210

Master BudgetFlexible budgetFlexible budgetFlexible budget (6,900 units)per unit(5,900 units)(7,900…

Answered: Olive Company makes silver belt…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 15EB: Judges Gavel uses this information when preparing their flexible budget: direct materials of $3 per...

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Judges Gavel uses this information when preparing their flexible budget: direct materials of $3 per unit, direct labor of $2.50 per unit, and manufacturing overhead of $1.25 per unit. Fixed costs are $49,000. What would be the budgeted amounts for 33,000 and 35,000 units?
Olive Company makes silver belt buckles. The company's master budget appears in the first column of the table. Required: Complete the table by preparing Olive's flexible budget for 5,300, 7,300, and 8,300 units. Note: Round your intermediate calculations to 2 decimal places. Master Budget Flexible Budget Flexible Budget Flexible Budget (7,300 Units) (8,300 Units) (6,300 Units) (5,300 Units) Direct materials $ 1,890 Direct labor 2,520 Variable manufacturing overhead 2,520 Fixed manufacturing overhead 17,300 Total manufacturing cost $ 24,230
Olive Company makes silver belt buckles. The company's master budget appears in the first column of the table. Required: Complete the table by preparing Olive's flexible budget for 5,400, 7,400, and 8,400 units. (Round your intermediate calculations to 2 decimal places.) Master Budget Flexible Budget Flexible Budget (5,400 Units) Flexible Budget (8,400 Units) (6,400 Units) (7,400 Units) Direct materials $ 640 Direct labor 3,200 Variable manufacturing overhead 1,280 Fixed manufacturing overhead 17,000 Total manufacturing cost $ 22,120
Olive Company makes silver belt buckles. The company's master budget appears in the first column of the table. Required: Complete the table by preparing Olive's flexible budget for 4,300, 6,300, and 7,300 units. Note: Round your intermediate calculations to 2 decimal places. Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing cost Master Budget Flexible Budget (5,300 Units) (4,300 Units) 530 2,650 1,060 18,300 22,540 $ Flexible Budget (6,300 Units) Flexible Budget (7,300 Units)
Olive Company makes silver belt buckles. The company's master budget appears in the first column of the table. Required: Complete the table by preparing Olive's flexible budget for 5,700, 7,700, and 8,700 units. Note: Round your intermediate calculations to 2 decimal places. Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing cost Master Budget Flexible Budget (6,700 Units) (5,700 Units) $ 2,010 3,350 2,680 18,800 26,840 $ Flexible Budget (7,700 Units) Flexible Buget (8,700 Units)
Olive Company makes silver belt buckles. The company’s master budget appears in the first column of the table.Required:Complete the table by preparing Olive’s flexible budget for 4,300, 6,300, and 7,300 units. (Round your intermediate calculations to 2 decimal places.)
Howard Cooper, the president of Finch Computer Services, needs your help. He wonders about the potential effects on the firm's net income if he changes the service rate that the firm charges its customers. The following basic data pertain to fiscal Year 1: Standard rate and variable costs Service rate per hour Labor cost Overhead cost Selling, general, and administrative cost. Expected fixed costs Facility maintenance Selling, general, and administrative Required: a. Prepare the pro forma income statement that would appear in the master budget if the firm expects to provide 28,000 hours of services in Year 1. b. A marketing consultant suggests to Mr. Cooper that the service rate may affect the number of service hours that the firm can achieve. According to the consultant's analysis, if Finch charges customers $57 per hour, the firm can achieve 31,000 hours of services. Prepare a flexible budget using the consultant's assumption. c. The same consultant also suggests that if the firm…
Barlow Company manufactures book bags and has provided the following information for June 2018: E (Click the icon to view the information.) Requirements 1. Prepare a flexible budget performance report. (Hint: You will need to calculate the flexible budget amounts for 10,000 units.) 2. As the company owner, which employees would you praise or criticize after you analyze this performance report? Requirement 1. Prepare a flexible budget performance report. (Hint. You will need to calculate the flexible budget amounts for 10,000 units.) (Enter a "0" for any zero balances. For any $0 variances, leave the Favorable (F)/Unfavorable (U) input blank. Enter all amounts as positive values.) Barlow Company Flexible Budget Performance Report For the Month Ended June 30, 2018 1 2 3 4 - X Data Table (1) - (3) (3) - (5) Budget Flexible Sales Amounts Actual Budget Flexible Volume Static Static Budget Actual Results Per Unit Results Variance Budget Variance Budget Units 10,000 11,000 Units Sales Revenue…
The following fixed budget is based on budgeted sales of 700 units. Fixed Budget Sales (700 units x $830 per unit) Costs Direct materials Direct labor Indirect materials Supervisor salary Sales staff commissions Shipping Administrative salaries Depreciation-Machinery Taxes and insurance Sales staff salaries (fixed) Income Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate total variable cost per unit. $ 581,000 59,500 101,500 38,500 14,000 31,500 34,300 43,200 7,100 4,100 7,300 $ 240,000 Total variable cost per unit
Day Inc manufactures travel socks. The budgeted selling price is $17 per lock the variable cost in $10 per lock, and budgeted fixed costs are $10,000 per month Prepare a fexible budget for mulut leve of 3.000 locks and 5,000 locks for the month ended Apr 30, 2024 Unds Daje, Inc Flexible Budget For the Month Ended April 30, 2024 Budget Amounts Per Unit 3,000 5.000
eBook Show Me How Hours required for assembly: Direct Labor Cost Budget Pasadena Candle Inc. budgeted production of 63,000 candles for January. Each candle requires molding. Assume that three minutes are required to mold each candle. If molding labor costs $15.25 per hour, determine the direct labor cost budget for January. Round total direct labor cost to the nearest dollar, if required. Pasadena Candle Inc. Direct Labor Cost Budget For the Month Ending January 31 Candles Convert minutes to hours Molding hours Hourly rate Total direct labor cost signmentSession Locator=&inprogress=false Check My Work 2 more Check My Work uses remaining. ÷ X min. min. hrs. Updat Previous Next >
For each unit of finished goods Surf Inc. needs 3 pounds of material. The production budget is shown below for the next 4 months: Description Month 1 Month 2 Month 3 Month 4 Production Budget in Units 14,000.00 15,000.00 16,000.00 12,000.00 Prepare the material purchases budget and show the total cost of material to purchase based on the following for Months 1-3 Beg Inv Month 1 8,800.00 pounds of material Cost per pound $4.75 Required Ending Inventory 12% of next months requirement Description Month 1 Month 2 Month 3

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