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I need help in these two questions. Please solve in excel and show formulas.. If possible. Please upload excel on dropbox so i can download
I need help in these two questions. Please solve in excel and show formulas.. If possible. Please upload excel on dropbox so i can download it.
7) It is budgeted that the direct labor hours per unit from 2019 will be the same for 2020. It is also budgeted that the direct labor rate for 2020 will increase by 2% from 2019. What is the direct labor budget, in dollars, for 2020? (15 Points) 8) When drafting the budget for 2019 the standard hourly rate was set at $12.56 for direct labor. What is the total direct labor rate variance for 2019? (15 Points) Midwest Manufacturing Statement of Income $ 5,645,357 2018 2019 $ 5,814,718 $ 6,163,601 Sales Cost of Goods Sold: Variable Costs Fixed Costs Total Cost of Goods Sold 1,467,793 395,175 1,862,968 1,395,532 523,325 1,918,857 1,787,444 369,816 2,157,260 Gross Profit 3,782,389 3,895,861 4,006,341 Administrative & Selling Expenses: Variable Administrative & Selling Costs Fixed Administrative & Selling Costs 395,175 959,711 523,325 1,104,796 523,906 1.016.994 1,354,885 1,628,121 1,540,900 Total Administrative Costs $ 2,427,504 $ 2,267,740 $ 2,465,440 Net Income Supplemental Information 2017 2018 2019 Unit Costing Summary: Units Sold Direct Labor Hours 100,810 75,607 107,680 75,376 118,531 77,045
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