Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

tz + 5 pora look MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound

tz + 5 pora look MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 07 direct labor hour at a rate of $15 per hour. Variable overhead is budgeted at a rate of $2 per direct labor hour Budgeted fixed overhead is $19.000 per month. The company's policy is to end each month with direct materials inventory equal to 40% of the next month's direct materials requirement. At the end of August the company had 3,520 pounds of direct materials in inventory. The company's production budget reports the following Production Budget Units to produce September 4,400 October 6,700 November 6,600 (1) Prepare direct materials budgets for September and October (2) Prepare direct labor budgets for September and October (3) Prepare factory overhead budgets for September and October Complete this question by entering your answers in the tabs below. PH Required 1 Required 2 Required 3 Mc Graw Ha stly cloudy Prepare direct materials budgets for September and October MCO Leather Direct Materials Budget September October Units to produce Materials needed for production (pounds) Total materials required (pounds) Materials to purchase (pounds) Cost of direct materials purchases D Q 40 5 6 < Prev 4 of 5 Next > 7 8 144 90 6 0. 4 5 Points MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hour at a rate of $15 per hour. Variable overhead is budgeted at a rate of $2 per direct labor hour Budgeted fled overhead is $19,000 per month. The company's policy is to end each month with direct materials inventory equal to 40% of the next month's direct materials requirement. At the end of August the company had 3,520 pounds of direct materials in inventory. The company's production budget reports the following Production Budget Units to produce September October 5,700 6,500 eBook Het References (1) Prepare direct materials budgets for September and October (2) Prepare direct labor budgets for September and October (3) Prepare factory overhead budgets for September and October Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare direct labor budgets for September and October (Round "DL hours required per unit answers to one decimal place.) MCO Leather Direct Labor Budget Mc Graw Hill cloudy Units to produce Direct labor hours needed Cost of direct labor September October 5 6 8 7 < Pre Next > P 8 00 6 80 4 5 Points MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hour at a rate of $15 per hour. Variable overhead is budgeted at a rate of $2 per direct labor hour Budgeted fled overhead is $19,000 per month. The company's policy is to end each month with direct materials inventory equal to 40% of the next month's direct materials requirement. At the end of August the company had 3,520 pounds of direct materials in inventory. The company's production budget reports the following Production Budget Units to produce September October 5,700 6,500 eBook Het References (1) Prepare direct materials budgets for September and October (2) Prepare direct labor budgets for September and October (3) Prepare factory overhead budgets for September and October Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare direct labor budgets for September and October (Round "DL hours required per unit answers to one decimal place.) MCO Leather Direct Labor Budget Mc Graw Hill cloudy Units to produce Direct labor hours needed Cost of direct labor September October 5 6 8 7 < Pre Next > P 8 00 6 80 MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hour at a rate of $15 per hour. Variable overhead is budgeted at a rate of $2 per direct labor hour. Budgeted fixed overhead is $19,000 per month. The company's policy is to end each month with direct materials inventory equal to 40% of the next month's direct materials requirement. At the end of August the company had 3,520 pounds of direct materials in inventory. The company's production budget reports the following. Production Budget Units to produce September 4,400 October 6,700 November 6,600 (1) Prepare direct materials budgets for September and October. (2) Prepare direct labor budgets for September and October. (3) Prepare factory overhead budgets for September and October. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare factory overhead budgets for September and October, MCO Leather Factory Overhead Budget September October Direct labor hours needed Budgeted variable overhead Budgeted total factory overhead < Required 2 Required 3> < Prev 4 of 6 Next > 0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Policies In Local Government Finance

Authors: Icma Staff

5th Edition

0873267729, 978-0873267724

More Books

Students also viewed these Accounting questions

Question

What tools might be helpful?

Answered: 1 week ago