Jinto Inc. ("The Company is a manufacturer of leather gloves in China. The upcoming year is expected to be a good one. Management wants to do some scenario planning and see what the financial results would look like under different production levels. The Company has budgeted the following costs in the chart below for one pair of gloves (1 Unit) Materials 1 leather piece @ $22.00 25 hours of direct labour Labour $17.00/hour Variable 2.5 hours of direct laboure overhead $1.00/hour Fixed overhead for The Company will be $7.000 this year. Required: Prepare a flexible budget, for the year, for the production of 1.500 and 2,000 units. Using this flexible budget, answer the following questions: Question 43 (2 points) What is the total cost to The Company, excluding fored overhead, for the production of 1,500 units? Question 44(1 point) What is the total cost per unit for the production of 1.500 units? Question 45 (2 points) What is the total cost to The Company, excluding fixed overhead, for the production of 2,000 units? Question 46 (1 point) What is the total cost per unit for the production of 2.000 units? Question 47 (1 point) Which of the following is true regarding a fledble budget? O A flexible budget can only be created for one production level O A flexible budget can only be created at the start of the Year A flexible budget can be created for multiple production levels Flexible budget is another name for the static budget Question 48 (1 point) Using the flexible budget, what costs are included in calculating the total cost of production Direct materials, direct labour, variable manufacturing overhead, fixed manufacturing overhead Direct materials, direct labour Direct materials Direct materials, direct labour, variable manufacturing overhead Jinto Inc. ("The Company is a manufacturer of leather gloves in China. The upcoming year is expected to be a good one. Management wants to do some scenario planning and see what the financial results would look like under different production levels. The Company has budgeted the following costs in the chart below for one pair of gloves (1 Unit) Materials 1 leather piece @ $22.00 25 hours of direct labour Labour $17.00/hour Variable 2.5 hours of direct laboure overhead $1.00/hour Fixed overhead for The Company will be $7.000 this year. Required: Prepare a flexible budget, for the year, for the production of 1.500 and 2,000 units. Using this flexible budget, answer the following questions: Question 43 (2 points) What is the total cost to The Company, excluding fored overhead, for the production of 1,500 units? Question 44(1 point) What is the total cost per unit for the production of 1.500 units? Question 45 (2 points) What is the total cost to The Company, excluding fixed overhead, for the production of 2,000 units? Question 46 (1 point) What is the total cost per unit for the production of 2.000 units? Question 47 (1 point) Which of the following is true regarding a fledble budget? O A flexible budget can only be created for one production level O A flexible budget can only be created at the start of the Year A flexible budget can be created for multiple production levels Flexible budget is another name for the static budget Question 48 (1 point) Using the flexible budget, what costs are included in calculating the total cost of production Direct materials, direct labour, variable manufacturing overhead, fixed manufacturing overhead Direct materials, direct labour Direct materials Direct materials, direct labour, variable manufacturing overhead
