2) Tom's Famous Bar-B-Q Sauce Company is in the process of preparing a production budget for...

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2) Tom's Famous Bar-B-Q Sauce Company is in the process of preparing a production budget for October 2019. Actual results for September 2019 are as follows: September 2019 Actual: 40,000 28,000 16,000 9,000 6,000 10,000 69,000 Total jars of sauce produced Ingredient Costs Labor Costa %24 Rent %24 Depreciation Other fixed costs Total Production Costs a) What costs are fixed and what costs are variable ? b) Prepare the October Production Budget assuming the sales forecast is 48,000 jars of sauce. c) Calculate the actual cost per unit in September and the budgeted cost per unit in October, 3) Carl's Custom Car Company had the following year end financial information: Beginning balance in Raw Material Inventory Ending balance in Raw Material Inventory Beginning balance in Finished Goods Inventory Ending balance in Finished Good Inventory Sales Purchases of raw material GAA Expenses Selling Expenses Direct Labor Cost 120,000 80,000 50,000 75,000 2,700,000 300,000 750,000 250,000 1,200,000 400,000 25,000 65,000 %24 Manufacturing overhead applied Beginning balance in Work in Process Inventory Ending balance in Work in Process Inventory a) Prepare a schedule of cost of goods manufactured b) Prepare and Income Statement 4) The New Company utilizes process cost accounting. Direct materials are added at the begining of the production process and labor and overhead are added evenly throughout the production process. Below is the information relating to June 2019. Unit Information: Work In Process June 1 Units started during June Units completed and move to FG Ending Inventory (100% complete material, 60% complete labor &OM) 18,000 7777m (62,000) 32,000 Cost Information: Direct Material Direct Labor Overhead Costs Incurred during June 120,000 S 400,000 $ 180,000 1) Compute the units started during June 2) Compute the units completed during June including EUP (Equivalent Units of Production) 3) Compute the cost per unit of materlal, labor and overhead 2) Tom's Famous Bar-B-Q Sauce Company is in the process of preparing a production budget for October 2019. Actual results for September 2019 are as follows: September 2019 Actual: 40,000 28,000 16,000 9,000 6,000 10,000 69,000 Total jars of sauce produced Ingredient Costs Labor Costa %24 Rent %24 Depreciation Other fixed costs Total Production Costs a) What costs are fixed and what costs are variable ? b) Prepare the October Production Budget assuming the sales forecast is 48,000 jars of sauce. c) Calculate the actual cost per unit in September and the budgeted cost per unit in October, 3) Carl's Custom Car Company had the following year end financial information: Beginning balance in Raw Material Inventory Ending balance in Raw Material Inventory Beginning balance in Finished Goods Inventory Ending balance in Finished Good Inventory Sales Purchases of raw material GAA Expenses Selling Expenses Direct Labor Cost 120,000 80,000 50,000 75,000 2,700,000 300,000 750,000 250,000 1,200,000 400,000 25,000 65,000 %24 Manufacturing overhead applied Beginning balance in Work in Process Inventory Ending balance in Work in Process Inventory a) Prepare a schedule of cost of goods manufactured b) Prepare and Income Statement 4) The New Company utilizes process cost accounting. Direct materials are added at the begining of the production process and labor and overhead are added evenly throughout the production process. Below is the information relating to June 2019. Unit Information: Work In Process June 1 Units started during June Units completed and move to FG Ending Inventory (100% complete material, 60% complete labor &OM) 18,000 7777m (62,000) 32,000 Cost Information: Direct Material Direct Labor Overhead Costs Incurred during June 120,000 S 400,000 $ 180,000 1) Compute the units started during June 2) Compute the units completed during June including EUP (Equivalent Units of Production) 3) Compute the cost per unit of materlal, labor and overhead

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QUESTION 3 Part A Variable cost Variable costs are costs that vary with the level of production These are not fixed in nature and keep changing according to the level of production example Direct mate... View the full answer