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Solution for Cost Accounting: Foundations and Evolutions 8th Edition Chapter 8, Problem 16

by Michael R. Kinney, Cecily A. Raiborn
358 Solutions 19 Chapters 53470 Studied ISBN: 9781439044612 Accounting 5 (1)

Chapter 8, Problem Exercise 16 : Exercise 8-25   ...

Exercise 8-25

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Insert your answers in the gray-shaded cells of columns D and F. If an answer is

 

 

incorrect, the word "wrong" will appear."

 

 

 

 

 

 

 

 

 

 

 

 

 

 

a.

Production Budget

 

Boxes

 

Trays

 

Total

 

 

Units of sales

 

           42,000

 

         30,000

 

 

 

 

Units desired in ending inv.

 

             1,800

 

              650

 

 

 

 

Units needed

 

 

 

 

 

$          -  

 

 

Units in beginning inv.

 

           (1,200)

 

            (800)

 

 

 

 

Budgeted production

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

b.

Purchases Budget

 

Material A

 

Material B

 

Total

 

 

Pounds needed for production

 

        1,15,050

 

         87,780

 

 

 

 

Desired ending inventory

 

             1,500

 

           1,400

 

 

 

 

Total requirements

 

 

 

 

 

               -

 

 

Less beginning inventory

 

           (1,780)

 

         (5,000)

 

 

 

 

Pounds to be purchased

 

 

 

 

 

 

 

 

x Cost per pound

 

$            0.05

 

$          0.07

 

 

 

 

Total cost of purchases

 

 

 

 

 

$            -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

c.

Direct Labor Budget

 

 

 

 

 

 

 

 

Required hours: Boxes

 

 

 

         12,780

 

 

 

 

Required hours: Trays

 

 

 

           5,970

 

 

 

 

Total direct labor hours

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

d.

Overhead Budget

 

Boxes

 

Trays

 

Total

 

 

Activity base (hours)

 

           12,780

 

           5,970

 

 

 

 

x Overhead rate

 

$            1.60

 

$          1.60

 

 

 

 

Overhead applied

 

 

 

 

 

$          -  

 

 

 

 

 

 

 

 

 

 

 

Step-By-Step Solution

Chapter 8, Problem Exercise 16

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