Home Insert Draw Page Layout Formulas Data Review V Calibri (Body) 11 ' LG Paste B Av Office Update To keep up-to-date with security updates, fixes, and improvements, A1 * vfx Group Number A B C D E 35 Amount paid in current month 40% 36 Amount pald in following month 60% 37 38 d. Direct labour hours required for one unit of production 39 Direct labour hours required 1.25 hour(s) 40 Direct labour cost per hour $ 16.00 41 42 e. Variable manufacturing overhead is allocated on the basis of direct labour cost. 43 Predetermined Overhead Rate 50% 45 f. The company has the following cash/credit sales policy 46 Proportion of cash sales 10% Proportion of credit sales collected in 47 following month 4596 Proportion of credit sales collected 2 months 48 later 55% 49 50 g Fixed overhead costs (per month) 51 Factory supervisor salary $ 75,400 52 Factory insurance 5 1,350 53 Factory rent $ 7,550 54 Depreciation of factory equipment $ 1,150 55 56 h. Total monthly fixed selling and administrative expenses 57 Advertising 5 1200 SB Depreciation $ 1.150 59 insurance S 1,150 60 Salaris S 1.250 61 Other $ 1.150 67 63 Variable selling and administrative expenses 54 Shipping costs S 3.90 per unit 6 Commissions Bosales 66 Home Insert Draw Page Layout Formulas Data Review Vies Calibri (Body) 11 Paste BIU V a-A- Office Update To keep up-to-date with security updates, fixes, and improvements, ch A1 Xv fx Group Number D E A B OCCUPANOWICAMILO BELIEM Urzony 68 Furniture and equipment for the sales office $ 515,000+ 69 Monthly depreciation expense $ 10,300 70 The acquisition of this furniture and equipment was contracted a year 71 earlier and was in a contractual obligation to proceed with the purchase. 72 73 74 k. The balance sheet as at December 31, 2020 75 76 Assets 77 Cash $ 75,000 78 Accounts receivable $ 912,303 79 Inventory: Raw materials 6,360 80 Finished goods $ 70.620 S 76,980 81 Plant and equipment $ 965,000 82 Less: Accumulated Depreciation $ 96,500 $ B68,500 83 Total Assets $ 1,932,783 84 85 Llabilities and Equity 86 Accounts payable $ 25,000 87 6% long-term notes payable 5 880,000 88 Common shares $ 710,000 89 Retained earnings s 317,783 90 Total liabilities and shareholders' equity S 1.932,783 is 1923 93 Interest rate on debt (monthly, simple interest) 0.50% 94. Minimum cash balance $30,000 95 96 97 Additional information All cash payments except purchases of raw materials are made monthly as incurred All borrawings occur at the beginning of each month and all repayments occur at the end of the month Borrowings 99 ur in any amount TOD. All interest or borrowed funds is paid at the end of each month at a rate of 5 per month Inbox hannahen... B Homepage - Univ... UofM Outlook = Chegg Study Textbook Solutions Expert QA Study Pack Practice Sales Budget Jan Feb Mar Apr. Sales in units 10,200 13,000 9,800 10,700 $ 63 Unit sales $ 63 $ 63 $ 63 Sales in dollars $674,100 $ 642,600 S 819,000 S 617,400 Production Budget Jan Feb Mar Apr Sales in units 10,700 10200 13,000 9,800 2,040 2,600 1960 2,480 Add: Desired ending finished goods Finished goods requirements Less Beginning tin ghec goods 12.740 12.800 14,960 12.280 2,140 2,040 2.600 1.960 Droduction requirements 10,600 10.76012360 10,320 Raw Materials Purchases Budget Jan Feb Mar Apr Units of production required 10,600 10,760 10.320 5 5 ih Uniso raw matelas repaired per unt 5 Otants of raw reduined 53,000 SEO 61 BD 5600 Rod. Desired ending inventary 2550 10.20 otaquirements 63760 72120 30,000 3050 13 Legiang invertory Raw materials use 16 400 50 Grawer - ECCL 56 of E Chegg Study Textbook Solutions Expert Q&A Study Pack Practice d. Direct Labor and Overhead Budget Jan Feb Mar 10,600 10,760 12,360 Units of production required Direct labor hours required per unit Total direct labor hours required 1.25 1.25 125 13,250 13.450 15,450 Direct labor cost per hour $ 16 $ 16 $ 16 Total direct labor cost 212,000 215,200 247,200 Manufacturing overhead Variable 106,000 107,600 123,600 Fixed 85,450 85,450 85.450 Total manufacturing overhead 191.450 193,050 209,050 $403,450 $408,250 $456,250 Total cost of direct labor and manufacturing overhead Selling and Administrative Budget Jan Feb Mar Sales in uns 10.700 10.200 13.000 Variable Sh poing per and 5390 S50 $ 3.90 Total shoong 12/30 3780 02200 Sales commission BS 81 Total adscommission 5925 51,400 63,20 00 5,000 Hotel S10.555 S22120 FO A1 X f Garden Manufacturing A F G TAUNY February March Caken of Unk Vintable Colt cost of od old ministrative spense marin Manufacture overheid Selling and ministrative To find expenses Operating comes enteret e pense Net income foss) Game Manufacturing Audated Sheet 31 March 2021 Cash Accountabile Oy Finked goods erty plant and equipment net Total biles and show on av Family Home Insert Draw Page Layout Formulas Data Review V Calibri (Body) 11 ' LG Paste B Av Office Update To keep up-to-date with security updates, fixes, and improvements, A1 * vfx Group Number A B C D E 35 Amount paid in current month 40% 36 Amount pald in following month 60% 37 38 d. Direct labour hours required for one unit of production 39 Direct labour hours required 1.25 hour(s) 40 Direct labour cost per hour $ 16.00 41 42 e. Variable manufacturing overhead is allocated on the basis of direct labour cost. 43 Predetermined Overhead Rate 50% 45 f. The company has the following cash/credit sales policy 46 Proportion of cash sales 10% Proportion of credit sales collected in 47 following month 4596 Proportion of credit sales collected 2 months 48 later 55% 49 50 g Fixed overhead costs (per month) 51 Factory supervisor salary $ 75,400 52 Factory insurance 5 1,350 53 Factory rent $ 7,550 54 Depreciation of factory equipment $ 1,150 55 56 h. Total monthly fixed selling and administrative expenses 57 Advertising 5 1200 SB Depreciation $ 1.150 59 insurance S 1,150 60 Salaris S 1.250 61 Other $ 1.150 67 63 Variable selling and administrative expenses 54 Shipping costs S 3.90 per unit 6 Commissions Bosales 66 Home Insert Draw Page Layout Formulas Data Review Vies Calibri (Body) 11 Paste BIU V a-A- Office Update To keep up-to-date with security updates, fixes, and improvements, ch A1 Xv fx Group Number D E A B OCCUPANOWICAMILO BELIEM Urzony 68 Furniture and equipment for the sales office $ 515,000+ 69 Monthly depreciation expense $ 10,300 70 The acquisition of this furniture and equipment was contracted a year 71 earlier and was in a contractual obligation to proceed with the purchase. 72 73 74 k. The balance sheet as at December 31, 2020 75 76 Assets 77 Cash $ 75,000 78 Accounts receivable $ 912,303 79 Inventory: Raw materials 6,360 80 Finished goods $ 70.620 S 76,980 81 Plant and equipment $ 965,000 82 Less: Accumulated Depreciation $ 96,500 $ B68,500 83 Total Assets $ 1,932,783 84 85 Llabilities and Equity 86 Accounts payable $ 25,000 87 6% long-term notes payable 5 880,000 88 Common shares $ 710,000 89 Retained earnings s 317,783 90 Total liabilities and shareholders' equity S 1.932,783 is 1923 93 Interest rate on debt (monthly, simple interest) 0.50% 94. Minimum cash balance $30,000 95 96 97 Additional information All cash payments except purchases of raw materials are made monthly as incurred All borrawings occur at the beginning of each month and all repayments occur at the end of the month Borrowings 99 ur in any amount TOD. All interest or borrowed funds is paid at the end of each month at a rate of 5 per month Inbox hannahen... B Homepage - Univ... UofM Outlook = Chegg Study Textbook Solutions Expert QA Study Pack Practice Sales Budget Jan Feb Mar Apr. Sales in units 10,200 13,000 9,800 10,700 $ 63 Unit sales $ 63 $ 63 $ 63 Sales in dollars $674,100 $ 642,600 S 819,000 S 617,400 Production Budget Jan Feb Mar Apr Sales in units 10,700 10200 13,000 9,800 2,040 2,600 1960 2,480 Add: Desired ending finished goods Finished goods requirements Less Beginning tin ghec goods 12.740 12.800 14,960 12.280 2,140 2,040 2.600 1.960 Droduction requirements 10,600 10.76012360 10,320 Raw Materials Purchases Budget Jan Feb Mar Apr Units of production required 10,600 10,760 10.320 5 5 ih Uniso raw matelas repaired per unt 5 Otants of raw reduined 53,000 SEO 61 BD 5600 Rod. Desired ending inventary 2550 10.20 otaquirements 63760 72120 30,000 3050 13 Legiang invertory Raw materials use 16 400 50 Grawer - ECCL 56 of E Chegg Study Textbook Solutions Expert Q&A Study Pack Practice d. Direct Labor and Overhead Budget Jan Feb Mar 10,600 10,760 12,360 Units of production required Direct labor hours required per unit Total direct labor hours required 1.25 1.25 125 13,250 13.450 15,450 Direct labor cost per hour $ 16 $ 16 $ 16 Total direct labor cost 212,000 215,200 247,200 Manufacturing overhead Variable 106,000 107,600 123,600 Fixed 85,450 85,450 85.450 Total manufacturing overhead 191.450 193,050 209,050 $403,450 $408,250 $456,250 Total cost of direct labor and manufacturing overhead Selling and Administrative Budget Jan Feb Mar Sales in uns 10.700 10.200 13.000 Variable Sh poing per and 5390 S50 $ 3.90 Total shoong 12/30 3780 02200 Sales commission BS 81 Total adscommission 5925 51,400 63,20 00 5,000 Hotel S10.555 S22120 FO A1 X f Garden Manufacturing A F G TAUNY February March Caken of Unk Vintable Colt cost of od old ministrative spense marin Manufacture overheid Selling and ministrative To find expenses Operating comes enteret e pense Net income foss) Game Manufacturing Audated Sheet 31 March 2021 Cash Accountabile Oy Finked goods erty plant and equipment net Total biles and show on av Family