Keystone Corporation produces a product-2B-23. The following standard production costs are reported by Keystone Corporation: Description...
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Keystone Corporation produces a product-2B-23. The following standard production costs are reported by Keystone Corporation: Description Cost/unit (1) Cost Behavior Direct material $1.20 Variable Direct labor $2.80 Variable Indirect material $1.00 Variable Indirect labor $0.60 Fixed (2) Depreciation and taxes $1.60 Fixed (3) Utilities $0.80 Semi-variable (4) (1) Based on a production level of 120,000 units (2) Incurred evenly each workday (there are 240 work days in the budget year) (3) Incurred evenly each month (4) Based on $3,000 per month plus 50 cents per unit Prepare a detailed flexed budget for the first quarter of the current year (which has 62 work days). Actual production - 36,000 units SHOW YOUR WORK and write your answer in the space provided to the left. 1. Direct material 2. Direct labor 3. Indirect material 4. Indirect labor 5. Depreciation and taxes 6. Utilities Keystone Corporation produces a product-2B-23. The following standard production costs are reported by Keystone Corporation: Description Cost/unit (1) Cost Behavior Direct material $1.20 Variable Direct labor $2.80 Variable Indirect material $1.00 Variable Indirect labor $0.60 Fixed (2) Depreciation and taxes $1.60 Fixed (3) Utilities $0.80 Semi-variable (4) (1) Based on a production level of 120,000 units (2) Incurred evenly each workday (there are 240 work days in the budget year) (3) Incurred evenly each month (4) Based on $3,000 per month plus 50 cents per unit Prepare a detailed flexed budget for the first quarter of the current year (which has 62 work days). Actual production - 36,000 units SHOW YOUR WORK and write your answer in the space provided to the left. 1. Direct material 2. Direct labor 3. Indirect material 4. Indirect labor 5. Depreciation and taxes 6. Utilities
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Managerial Accounting A Focus on Ethical Decision Making
ISBN: 978-0324663853
5th edition
Authors: Steve Jackson, Roby Sawyers, Greg Jenkins
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