The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details...
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The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: 1st Quarter 10,000 2nd Quarter 9,200 3rd Quarter 9,500 4th Quarter 10,300 Budgeted direct labor-hours The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $4.50 per direct labor-hour and its total fixed manufacturing overhead is $68,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $17,000 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year. Required 1 Required 2 Prepare the company's manufacturing overhead budget for the upcoming fiscal year. (Round "Variable manufacturing overhead rate" answers to 2 decimal places.) Yuvwell Corporation Manufacturing Overhead Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Budgeted direct labor-hours 45,000 41,400 42,750 46,350 175,500 $ 272,000.00 $ 447,500 Variable manufacturing overhead rate 68,000.00 S 68,000.00 68,000.00 $ 68,000.00 Variable manufacturing overhead 113,000 S 109,400 110,750 $ 114,350 Fixed manufacturing overhead (17,000) (17,000) (17,000) (17,000) (68,000) Total manufacturing overhead Cash disbursements for manufacturing overhead < Required 1 Required 2 > The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: 1st Quarter 10,000 2nd Quarter 9,200 3rd Quarter 9,500 4th Quarter 10,300 Budgeted direct labor-hours The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $4.50 per direct labor-hour and its total fixed manufacturing overhead is $68,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $17,000 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year. Required 1 Required 2 Prepare the company's manufacturing overhead budget for the upcoming fiscal year. (Round "Variable manufacturing overhead rate" answers to 2 decimal places.) Yuvwell Corporation Manufacturing Overhead Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Budgeted direct labor-hours 45,000 41,400 42,750 46,350 175,500 $ 272,000.00 $ 447,500 Variable manufacturing overhead rate 68,000.00 S 68,000.00 68,000.00 $ 68,000.00 Variable manufacturing overhead 113,000 S 109,400 110,750 $ 114,350 Fixed manufacturing overhead (17,000) (17,000) (17,000) (17,000) (68,000) Total manufacturing overhead Cash disbursements for manufacturing overhead < Required 1 Required 2 >
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Related Book For
Managerial Accounting
ISBN: 978-0697789938
13th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
Posted Date:
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