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E11-31: p. 508

Exercise 11-31 Flexible Budget for Various Levels of Production

Budgeted amounts for the year:

Materials	2 leather strips @ $7.00
Labor	1.5 hr. @ $18.00
VOH	1.5 hr. @ $1.20
FOH	$6,800

Required:

• 1.Prepare a flexible budget for 3,500, 4,000, and 4,500 units.
• 2.CONCEPTUAL CONNECTION Calculate the unit cost at 3,500, 4,000, and 4,500 units. (Note: Round unit costs to the nearest cent.) What happens to unit cost as the number of units produced increases?

st according homework help

Exercise 11-31 Name: Enter the appropriate amounts or formulas in the gray-shaded cells. An asterisk (*) will appear in the column to the right of an incorrect amount. 1. Cost Formula Flexible Budget 3,500 Units 4,000 Units 4,500 Units Direct materials Direct labor Variable overhead Fixed overhead Total 2. Total cost / Units = Unit cost Unit cost at 3,500 units Unit cost at 4,000 units Unit cost at 4,500 units The cost per unit as the number of units produced increases, because cost is spread over a greater number of units