Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Need to double check my work. Thank you -GG Libra Chapter 9-HOMEWORK Scholar Suppliers manufactures backpacks for students. The backpacks come in two sizes: Small,
Need to double check my work. Thank you -GG
Libra Chapter 9-HOMEWORK Scholar Suppliers manufactures backpacks for students. The backpacks come in two sizes: Small, and Large. Scholar Suppliers anticipates the following sales volumes and prices for the coming period: 1. Size Small 3,000 backpacks $20 each Large 6,000 backpacks S45 each Sales Volume Selling Price What is the budgeted level of revenue for the coming period? A) $75,000 B) $330,000 C) $500,000 D) $525,000 E) S750,000 E) Metal 305 units/Leather 505 units s. Classic Homespun manufactures vintage clothing through a labor-intensive manual process. Workers are paid $16/hour. Each sweater takes 3 hours to knit, and each shirt requires 1 hour of total labor to complete. Management has budgeted for 1,500 items to be produced this period, with a ratio of 3:2 of shirts to sweaters. What is the total amount budgeted to be paid in Direct Labor wages for the period? A) $13,500 B) $22,500 C) $36,000 D) $43,200 E) $48,500 Chapter 9- HOMEWORK 4. Fine Flooring is small local manufacturing firm that makes carpet and vinyl floors at low cost. Management is preparing budgets for the month, and is trying to determine the Overhead Budget amounts. Variable overhead is budgeted to be incurred at a rate of $6.50/direct labor hour (including utility usage, indirect materials, and indirect labor). Budgeted direct labor hours are 4,200 hours for the period. Fixed overhead amounts include the following: Rent $3,000; Factory supervisor salary S5,000, Depreciation $2,000; Insurance $3,800; and Property taxes $1,500. What is the predetermined overhead rate (applied on the basis of direct labor hours round to 3 decimal places)? A) $5.005 / direct labor hour B) $6.620/ direct labor hour C) S7.375/ direct labor hour D) $8.502/ direct labor hour E) $10.14/ direct labor hour 5. DI ish I 5. D'Lish-Us is a commercial bakery that caters for commercial clients. The company's specialty is a small breakfast basket that can feed up to 3 people. Totals sales for the month are budgeted at 5,000 baskets, at a price of $25/basket. Variable selling expenses include commissions (2% of sales price) and delivery costs ($10/basket) Fixed selling expenses included insurance ($5,000), office equipment depreciation ($1,500), administrative salaries (S60,000), and rent on the office building ($2,000) D'Lish-Us pays all costs as they are incurred. What is the amount of cash budgeted for Selling and Administrative expenses for the month? A) $103,450 B) $110,500 C) $112,500 D) $119,500 E) $200,000 6. Quality Production Inc has a machine that is wearing out and nerds to book value of s8 60o o ronlmStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started