Course accounting 213
Answer 4 questions in images: problem 1,2,4,6
Problem 1 (6 pts) jones corporation produced 2,200 units in august , its manufacturing cost for august appear below:
Direct material (vc) $ 12.000
Direct labor (vc) 6,000
Variable overhead (vc) 8,000
Factory depreciation (FC) 11,000
Other fixed factory cost (FC) 3,500
If stratten produces a September flexible budget based on august activity, than what will its total budgeted cost be for September if 900 units are likely to be produced in September? Use the template below for your answer. Show all calculation to the right
Problem 2 (14 pts)
soster makes and sells candles. Each candles uses ¼ pound of wax budgeted sales and production of candles in units for the next 5 months is as follows:
april may june july
Budgeted production 11,500 14,000 15,900 16,500
The company wants to maintain monthly ending inventories of candles equal to 30% of the following months budgeted sales. It also wants to maintain monthly ending inventories of wax equal to 20% of the following months budgeted production needs. The cost of wax is $0.80 per pound. Prepare a direct materials budget for the months of april may june
Problem 4 (16 pts)
The income statement information for the first quarter of 2013 shows sales of $ 3,00,000 (5000 clocks at $60 each). The clock company must prepare its quarterly budgeted income statement for 2014.The regional manager expects that the number of clocks sold in the first quarter of 2014 will increase by 10% over the first quarter of 2013 while sales price per clock will remain constant.
The direct material budget shows that each clock requires 2.4 units of DM and that the average cost of each DM unit is $3. The direct labor budget shows that it takes craftsmen 0.8 hours to assemble each clock and that the craftmen’s wages average $13/hour. The manufacturing overhead budget shows that overhead cost should be $6 /DL hour.
a) (6pts) in the space provided below, show your calculation of direct materials cost per unit, direct labor cost per unit and manufacturing overhead cost per unit. Circle your answer.
b) (10 pts) using information from the ………………………….continued
Problem 6(15 pts)
Anna manufacturing corporation is considering investing in new…………………………
a)what option should anna choice
b) what is the approximate internal rate of return for option A.show your work
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