E9-2 (Algo) Preparing Flexible Budget for Manufacturing Costs [LO 9-2] Olive Company makes silver belt buckles. The company's master budget appears in the first column of the table. Required: Complete the table by preparing Olive's flexible budget for 4,100, 6,100, and 7,100 units. Note: Round your intermediate calculations to 2 decimal places. Master Budget Flexible Budget Flexible Budget Flexible Budget (6,100 Units) (7,100 Units) (5,100 Units) (4,100 Units) Direct materials $ 1,020 Direct labor 2,550 Variable manufacturing overhead 1,530 Fixed manufacturing overhead 17,800 Total manufacturing cost $ 22,900
Q: Casey Nelson is a divisional manager for Pigeon Company. His annual pay raises are largely…
A: Part 2: Explanation:Step 1: Calculate the annual net cash flows.To calculate the annual net cash…
Q: On the first day of the fiscal year, a company issues a $2,900,000, 11%, 5-year bond that pays…
A: Note: If you have any clarifications (i.e., expand the explanation) or want different, expanded, or…
Q: work Question 4 of 10 View Policies < Current Attempt in Progress Ivanhoe Solutions Company just…
A: Step 1: In the periodic Inventory system, the Inventory account is updated at the end of the period.…
Q: Please do not give solution in image format thanku
A: Direct materials quantity variance is the difference between the actual materials used and standard…
Q: None
A: To calculate Oriole Corporation's 2025 diluted earnings per share, we need to follow these steps:1.…
Q: None
A: Answer information:Discount on issue39000=1950000*(1-0.98)Discount amortized for 5…
Q: Henrie's Drapery Service is investigating the purchase of a new machine for cleaning and blocking…
A: 1. Compute internal rate of return: Present value factor = Amount invested / Annual net cash outflow…
Q: None
A: ## Adjusting Entry for Uncollectible Accounts (Aging Analysis)**Date:** December 31,…
Q: Fringe benefits & benefits-in-kind ▸ Household expenses ▸ All contracts of household expenses e.g.…
A: It looks like you've provided some information related to fringe benefits and how they impact…
Q: Hidalgo Barbers wants to have $230,000 in 14 years to build a second barbershop 14 years from today.…
A: a.Step 1: Determine the annual deposits of $15,000 that will begin two years from today and will be…
Q: Load the data into Tableau Rank the regions from the highest total insurance sales to lowest total…
A: let's break down the steps assist: 1. **Stack the information into Scene**: This includes bringing…
Q: None
A: Step by step calculation for each type:Marilyn:Unit Cost: $130Unit Net Realizable Value: $127Lower…
Q: Julie, a single taxpayer, has completed her 2023 Schedule C and her net loss is $40,000. Her only…
A: Step 1: Calculate Julie's Adjusted Gross Income (AGI)Julie's income includes:- Wages: $30,000- Net…
Q: Quail Company produces outdoor gear. Salter is a division of Quail that manufactures unbreakable…
A: 2. Determine the maximum price the sleeping bag production facility would be willing to pay to…
Q: Manji
A: Required 1: Production Department's Planning BudgetSince the planning budget is based on the planned…
Q: Vinubhai
A: Detailed explanation:Calculate the total manufacturing cost per unit:Direct materials cost per unit:…
Q: Product Line Earnings Statements (Dollar amounts are in thousands) Annual Costs of Operating Each…
A: The objective of the question is to prepare revised product-line earnings statements for…
Q: Short question
A: Requirement aDepreciable cost = Cost - Residual value Cost 50,800 Estimated residual value…
Q: Hanshaben
A: Labor efficiency variance measures how well the manufacturing workers use their time and skills to…
Q: None
A: The corridor approach is a method used in pension accounting to determine the amount of net gain or…
Q: Golden Food Products produces special-formula pet food. The company carries no inventories. The…
A: 1. Direct Materials Variances Price Variance (PV):The Actual Price (AP) per pound of materials can…
Q: On January 1, 2021, Ameen Company purchased major pieces of manufacturing equipment for a total of…
A: Step 1:1Journal entry as follows : EventGeneral journalDebit($) in millionsCredit($) in…
Q: Itial Analysis for The management of International Aluminum Co. is considering whether to process…
A: Step 1: No. 1Alternative 1- involves selling aluminum ingots, generating revenue at $1,100 per ton…
Q: Coffer Company is analyzing two potential investments. Cost of machine Project X $ 97,090 Net cash…
A: Step 1: The calculation of the payback period ABCDE1YearProject XCumulative CFProject YCumulative…
Q: Patton Dyes manufactures colorings, primarily for textiles. Information on the work in process…
A: To compute the equivalent units for materials and conversion costs using the weighted-average…
Q: None
A: As a large language model, I cannot directly work for a company. However, I can access information…
Q: please answer in text form with introduction , concept , explanation, computation , steps for all…
A: Regal Cycle Company: Segment AnalysisIntroduction:This exercise examines the profitability of…
Q: 1. Sales made this year of 9,800 will be returned next year and customers will be granted full…
A: Accounting Treatment for Sales Returns Expected in the Next YearHere's how to account for the sales…
Q: At June 30 Assets IKIBAN INCORPORATED Comparative Balance Sheets Cash Accounts receivable, net…
A: Those words that are in bold characters are the additional information that was not found in the…
Q: Which of the following items is NOT classified as a financial asset? a. promissory notes b. forward…
A: The objective of the question is to identify which among the given options is not classified as a…
Q: expression equivalent to –x + ( –3x) + 12 – 9.
A: The objective of the question is to simplify the given expression -x + (-3x) + 12 - 9.
Q: Vishnu
A: Part 2: Explanation:Step 1: Calculate the payback period for each alternative.To calculate the…
Q: ! Required information Convers Corporation (calendar year-end) acquired the following assets during…
A: The objective of the question is to calculate the correct MACRS depreciation for Convers…
Q: 3- Chapte +…
A: Given a net operating loss carryforward of $77 million, Fame Corporation would have a tax liability…
Q: Jackson Window and Supplies is bidding on replacing windows in a large condominium complex. The…
A: Consider the following costs to calculate the bid price using time-and-material pricing 1. Labor…
Q: Urmilaben
A: In the overhead variance report provided, the variances for both variable overhead and fixed…
Q: 1. Discuss two (2) taxes that should be considered when setting up operations in Jamaica and…
A: "Since you have asked multiple questions we will only answer the first question for you as per our…
Q: On August 1, 2022, a US company signed a noncancelable order to purchase inventory from a company…
A: A journal entry is a formal record that documents the financial effects of a business transaction.…
Q: Alpesh
A: We must compute the present value of the minimum lease payments at the start of each year in order…
Q: Please correct only the highlighted in red fields. Those are the only numbers I need which are…
A: Detailed calcualtion and explanation:Book value of bonds payable Jan 1, 2025265000280,000 face value…
Q: Gadubhai
A: 1. Compute the company's average operating assets for last year.Average operating assets =…
Q: Quatro Company issues bonds dated January 1, 2021, with a par value of $810,000. The bonds' annual…
A: 3).Preparation of an effective interest amortization table for these bondsSemiannual Interest…
Q: None
A: Step 1:To solve this exercise, we need to calculate the direct labor rate and efficiency variances…
Q: Sales value and physical value allocation To-Go produces milk and sour cream from a joint process.…
A: Part A: Sales Value at Split-Off ApproachStep 1: Calculate total sales valueTotal sales value =…
Q: am.900.
A: To determine how much of the expenditures Ed can deduct as a medical expense in 2023, we need to…
Q: Manji
A: To compute the income taxes payable for 2025, we need to calculate the current tax expense and then…
Q: Debra Leasing Company signs an agreement on January 1, 2025, to lease equipment to Novak Company.…
A: Approach to solving the question: Detailed explanation: Examples: Key references: Financial…
Q: Required: Calculate the tax lisbility for each of the following entities using the corroct basic…
A: Let's dissect the computations and go over each one in greater depth for each entity: 1. Sole…
Q: Find the present value of the streams of cash flows shown in the following table. Assume that the…
A: Calculate the present value of the streams of cash flows using Excel as follows:Formula…
Q: None
A: First , the market price of the issued stock was $8 dollars therefore we need to divide this into…
Step by step
Solved in 2 steps with 1 images
- Olive Company makes silver belt buckles. The company's master budget appears in the first column of the table. Required: Complete the table by preparing Olive's flexible budget for 5,400, 7,400, and 8,400 units. (Round your intermediate calculations to 2 decimal places.) Master Budget Flexible Budget Flexible Budget (5,400 Units) Flexible Budget (8,400 Units) (6,400 Units) (7,400 Units) Direct materials $ 640 Direct labor 3,200 Variable manufacturing overhead 1,280 Fixed manufacturing overhead 17,000 Total manufacturing cost $ 22,120Olive Company makes silver belt buckles. The company's master budget appears in the first column of the table. Required: Complete the table by preparing Olive's flexible budget for 5,700, 7,700, and 8,700 units. Note: Round your intermediate calculations to 2 decimal places. Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing cost Master Budget Flexible Budget (6,700 Units) (5,700 Units) $ 2,010 3,350 2,680 18,800 26,840 $ Flexible Budget (7,700 Units) Flexible Buget (8,700 Units)Olive Company makes silver belt buckles. The company's master budget appears in the first column of the table. Required: Complete the table by preparing Olive's flexible budget for 5,800, 7,800, and 8,800 units. Note: Round your intermediate calculations to 2 decimal places. Master Budget Flexible Budget Flexible Budget Flexible Budget (6,800 Units) (5,800 Units) Direct materials $ 2,040 Direct labor Variable manufacturing overhead 3,400 2,720 Fixed manufacturing overhead 17,600 Total manufacturing cost $ 25,760 (7,800 Units) (8,800 Units)
- Olive Company makes silver belt buckles. The company’s master budget appears in the first column of the table.Required:Complete the table by preparing Olive’s flexible budget for 4,700, 6,700, and 7,700 units. (Round your intermediate calculations to 2 decimal places.)Howard Cooper, the president of Finch Computer Services, needs your help. He wonders about the potential effects on the firm's net income if he changes the service rate that the firm charges its customers. The following basic data pertain to fiscal Year 1: Standard rate and variable costs Service rate per hour Labor cost Overhead cost Selling, general, and administrative cost. Expected fixed costs Facility maintenance Selling, general, and administrative Required: a. Prepare the pro forma income statement that would appear in the master budget if the firm expects to provide 28,000 hours of services in Year 1. b. A marketing consultant suggests to Mr. Cooper that the service rate may affect the number of service hours that the firm can achieve. According to the consultant's analysis, if Finch charges customers $57 per hour, the firm can achieve 31,000 hours of services. Prepare a flexible budget using the consultant's assumption. c. The same consultant also suggests that if the firm…Barlow Company manufactures book bags and has provided the following information for June 2018: E (Click the icon to view the information.) Requirements 1. Prepare a flexible budget performance report. (Hint: You will need to calculate the flexible budget amounts for 10,000 units.) 2. As the company owner, which employees would you praise or criticize after you analyze this performance report? Requirement 1. Prepare a flexible budget performance report. (Hint. You will need to calculate the flexible budget amounts for 10,000 units.) (Enter a "0" for any zero balances. For any $0 variances, leave the Favorable (F)/Unfavorable (U) input blank. Enter all amounts as positive values.) Barlow Company Flexible Budget Performance Report For the Month Ended June 30, 2018 - X 1 Data Table (1) - (3) (3) - (5) Budget Flexible Sales Static Budget 11,000 Amounts Actual Budget Flexible Volume Static Actual Results Units 10,000 Per Unit Results Variance Budget Variance Budget Sales Revenue $ 174,000 $…
- Barlow Company manufactures book bags and has provided the following information for June 2018: E (Click the icon to view the information.) Requirements 1. Prepare a flexible budget performance report. (Hint: You will need to calculate the flexible budget amounts for 10,000 units.) 2. As the company owner, which employees would you praise or criticize after you analyze this performance report? Requirement 1. Prepare a flexible budget performance report. (Hint. You will need to calculate the flexible budget amounts for 10,000 units.) (Enter a "0" for any zero balances. For any $0 variances, leave the Favorable (F)/Unfavorable (U) input blank. Enter all amounts as positive values.) Barlow Company Flexible Budget Performance Report For the Month Ended June 30, 2018 1 2 3 4 - X Data Table (1) - (3) (3) - (5) Budget Flexible Sales Amounts Actual Budget Flexible Volume Static Static Budget Actual Results Per Unit Results Variance Budget Variance Budget Units 10,000 11,000 Units Sales Revenue…The following fixed budget is based on budgeted sales of 700 units. Fixed Budget Sales (700 units x $830 per unit) Costs Direct materials Direct labor Indirect materials Supervisor salary Sales staff commissions Shipping Administrative salaries Depreciation-Machinery Taxes and insurance Sales staff salaries (fixed) Income Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate total variable cost per unit. $ 581,000 59,500 101,500 38,500 14,000 31,500 34,300 43,200 7,100 4,100 7,300 $ 240,000 Total variable cost per unitRefer to Cornerstone Exercise 8.6. Required: 1. Calculate the total budgeted cost of units produced for Play-Disc for the coming year. Show the cost of direct materials, direct labor, and overhead. 2. Prepare a cost of goods sold budget for Play-Disc for the year. 3. What if the beginning inventory of finished goods was 75,200 (for 16,000 units)? How would that affect the cost of goods sold budget? (Assume Play-Disc uses the FIFO method.) Play-Disc makes Frisbee-type plastic discs. Each 12-inch diameter plastic disc has the following manufacturing costs: For the coming year, Play-Disc expects to make 300,000 plastic discs, and to sell 285,000 of them. Budgeted beginning inventory in units is 16,000 with unit cost of 4.75. (There are no beginning or ending inventories of work in process.) Required: 1. Prepare an ending finished goods inventory budget for Play-Disc for the coming year. 2. What if sales increased to 290,000 discs? How would that affect the ending finished goods inventory budget? Calculate the value of budgeted ending finished goods inventory.
- Cold X, Inc. uses this information when preparing their flexible budget: direct materials of $2 per unit, direct labor of $3 per unit, and manufacturing overhead of $1 per unit. Fixed costs are $35,000. What would be the budgeted amounts for 20,000 and 25,000 units?Blue Book printing is budgeting sales of 25,000 units and already has 5,000 in beginning inventory. How many units must be produced to also meet the 7,000 units required in ending inventory?Judges Gavel uses this information when preparing their flexible budget: direct materials of $3 per unit, direct labor of $2.50 per unit, and manufacturing overhead of $1.25 per unit. Fixed costs are $49,000. What would be the budgeted amounts for 33,000 and 35,000 units?