D2L Grades - STAT*20 X D2L Unit 08 Excel Ass X D2L Week 8 To Do List X D2L Homepage - HRO X D2L Homepage - ACC X Question 18 - Pos X | Chegg.com x G Mark Calculator | X + C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%2... Update : Post-Class Quiz - Chapter 9 i Saved Help Save & Exit Submit The direct labour budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct 18 labour-hours: 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter Budgeted direct labour-hours 8 , 800 8, 600 8, 900 8, 300 The company's variable manufacturing overhead rate is $3.00 per direct labour-hour and the company's fixed manufacturing overhead is $56,000 per quarter. The only non-cash item included in fixed manufacturing overhead is depreciation, which is $14,000 per quarter. Required: 1. Complete the company's manufacturing overhead budget for the upcoming fiscal year. Yuvwell Corporation Manufacturing Overhead Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Less depreciation Cash disbursements for manufacturing overhead 2. Compute the company's manufacturing overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year. Total budgeted manufacturing overhead for the year Budgeted direct labour-hours for the year Mc Graw HillD2L Grades - STAT*20 X D2L Unit 08 Excel Ass X D2L Week 8 To Do List X D2L Homepage - HRO X D21 Homepage - ACC X Question 18 - Pos X | Chegg.com x G Mark Calculator | X + C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%2... Update : Post-Class Quiz - Chapter 9 i Saved Help Save & Exit Submit The company's variable manufacturing overhead rate is $3.00 per direct labour-hour and the company's fixed manufacturing overhead 18 s $56,000 per quarter. The only non-cash item included in fixed manufacturing overhead is depreciation, which is $14,000 per quarter. Required: 1. Complete the company's manufacturing overhead budget for the upcoming fiscal year. Yuvwell Corporation Manufacturing Overhead Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Less depreciation Cash disbursements for manufacturing overhead 2. Compute the company's manufacturing overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year. Total budgeted manufacturing overhead for the year Budgeted direct labour-hours for the year Predetermined overhead rate for the year 18 Mc Graw HillD2L Grades - STAT*20 X D2L Unit 08 Excel Ass X D2L Week 8 To Do List X D2L Homepage - HRO X D2L Homepage - ACC X Question 19 - Pos X | Chegg.com x G Mark Calculator | X + C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%2... Update : Post-Class Quiz - Chapter 9 i Saved Help Save & Exit Submit Fortin Limited produces and sells a single product, a wearable LED light for runners and cyclists. The analytics group at Fortin Limited 19 has developed the following estimates for unit sales in the upcoming year. First Second Third Fourth Quarter Quarter Quarter Quarter Budgeted unit sales 24, 700 22 , 600 20, 300 22 , 100 The light sells for $60 per unit and all sales are on account. 75% of sales are expected to be collected in the quarter of sale, with the remainder in the following quarter. Accounts receivable at the beginning of the quarter were $163,000 and will all be collected during the first quarter of the year. At the end of the previous quarter there were 2,400 units in finished goods inventory. The desired ending finished goods inventory at the end of each quarter is 10% of the next quarter's budgeted sales. Management expects sales in the fourth quarter of the upcoming year to be the same as the first quarter of the following year. Required: 1-a. Prepare the company's sales budget. First Second Third Fourth Quarter Quarter Quarter Quarter Year Budgeted unit sales Selling price per unit Total Sales 1-b. Prepare the schedule of expected cash collections. FORTIN LIMITED Schedule of Expected Cash Collections First Second Third Fourth Quarter Year Quarter Quarter Quarter Mc Graw HillD2L Grades - STAT*20 X D2L Unit 08 Excel Ass X D2L Week 8 To Do List X D21 Homepage - HRO X D2L Homepage - ACC X Question 19 - Pos X | Chegg.com x G Mark Calculator | X + C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%2... Update : Post-Class Quiz - Chapter 9 i Saved Help Save & Exit Submit 19 1-b. Prepare the schedule of expected cash collections. FORTIN LIMITED Schedule of Expected Cash Collections First Second Third Fourth Year Quarter Quarter Quarter Quarter Accounts receivable, beginning balance 1st Quarter sales 2nd Quarter sales 3rd Quarter sales 4th Quarter sales Total cash collections 2. Prepare the company's production budget for the upcoming fiscal year. FORTIN LIMITED Production Budget First Second Third Fourth Year Quarter Quarter Quarter Quarter Budgeted unit sales Total units needed Required production Mc Graw HillD2L Grades - STAT*20 X D2L Unit 08 Excel Ass X D2L Week 8 To Do List X D2L Homepage - HRO X D2L Homepage - ACC X Question 20 - Pos X | Chegg.com x G Mark Calculator | X + C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%2... Update : Post-Class Quiz - Chapter 9 i Saved Help Save & Exit Submit Fortin Limited produces and sells a single product, a wearable LED light for runners and cyclists. The analytics group at Fortin Limited 20 has developed the following estimates for unit sales in the upcoming year. First Second Third Fourth Quarter Quarter Quarter Quarter Budgeted unit sales 24, 800 22, 900 20, 300 22, 800 At the end of the previous quarter there were 2,500 units in finished goods inventory. The desired ending finished goods inventory at the end of each quarter is 10% of the next quarter's budgeted sales. Management expects sales in the fourth quarter of the upcoming year to be the same as the first quarter of the following year. Each light requires 0.75 direct labour-hours for assembly and employees are paid $21 per hour. Required: Prepare the company's direct labour budget for the upcoming fiscal year, assuming that the direct labour workforce is adjusted each quarter to match the number of hours required to produce the forecast number of units. (Round "Direct labour time per unit" answers to 2 decimal places. Round "Total direct labour hours needed" answers to whole number.) FORTIN LIMITED Direct Labour Budget First Quarter Second Quarter Third Quarter Fourth Quarter Year Units to be produced Direct labour time per unit (hours) Total direct labour hours needed Direct labour cost per hour Total direct labour cost Mc Graw Hill