Chapter 9 Take home quiz

Chapter 9 Take home quiz - Total Manufacturing Overhead...

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Kellie Raji Take Home Quiz #4 Sec. 001 Tilger Farm Supply Company Sales Budget For the Six Months Ending June 30,2005 Quarter Six Months 1 2 Expected Unit Sales 40,000 55,000 95,000 Unit Selling Price $60 $60 Total Sales $2,400,000 $3,300,000 $5,700,000 Tilger Farm Supply Company Production Budget For the Six Months Ending June 30,2005 Quarter Six Months 1 2 Expected Unit Sales 40,000 55,000 Add: Desired Ending Finished Goods Units 19,000 25,000 Total Required Units 59,000 80,000 Less: Beginning Finished Goods Units 13,000 19,000 Required Production Units 46,000 61,000 107,000 Tilger Farm Supply Company Direct Labor Budget For the Six Months Ending June 30,2005 Quarter Six Months 1 2 Units to be produced 46,000 61,000 Direct Labor time per unit 0.25 0.25 Total required direct labor hours 11,500 15,250 Direct labor cost per hour $12 $12 Total Direct labor cost $138,000 $183,000 $321,000 Tilger Farm Supply Company Manufacturing Overhead Budget For the Six Months Ending June 30,2005 Quarter Six Months 1 2 Variable Costs $27,600 $36,600 $64,200 Fixed Costs 60,000 67,000 127,000
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Unformatted text preview: Total Manufacturing Overhead $87,600 $103,600 $191,200 Direct Labor Hours 11,500 15,250 26,750 Manufacturing Overhead rate per direct labor hour $7.15 Tilger Farm Supply Company Selling and Administrative Expense Budget For the Six Months Ending June 30,2005 Quarter Six Months 1 2 Total Variable Costs $240,000 $330,000 Total Fixed Costs $150,000 $150,000 $390,000 $480,000 $870,000 Cost of Goods Sold Cost Element Quantity Unit Cost Total Direct Materials 6 lbs. $3 $18 10 lbs $1.50 $15 Direct Labor 15 mins $12 $3 Manufacturing Overhead 15 mins $7.15 $1.79 $37.79 Tilger Farm Supply Company Budgeted Income Statement For the Six Months Ending June 30,2005 Sales $5,700,000 Cost of goods sold 3,590,050 Gross Profit $2,109,950 Selling and Administrative Expenses 870,000 Income from Operations $1,239,950 Interest expenses Income before income taxes $1,239,950 Income Tax Expenses 371,985 Net Income $867,965 Total Selling and Administrative Expenses...
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Chapter 9 Take home quiz - Total Manufacturing Overhead...

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