Factory Overhead Cost Budget - Excel by zgg14276

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									     Name:
     Section:

     Exercise 7-2

     When amounts or calculations are correct the cell will change to green.

a.                         Red Hawk Manufacturing Co.
                                Production Budget
                        For the Month Ended March 31, 20--

     Units to be sold
     Ending inventory required
     Total                                                                     -
     Beginning inventory
     Units to be manufactured during March                                     -



b.                                       Red Hawk Manufacturing Co.
                                            Direct Materials Budget
                                     For the Month Ended March 31, 20--
                                                                    Material A        Material B
     Materials needed for production of 18,000 units                           gal.                lbs.
     Ending inventory required
     Total                                                                 -   gal.          -     lbs.
     Beginning inventory
     Units to be purchased                                                 -   gal.          -     lbs.
     Unit cost
     Materials purchases budget                                   $        -          $      -
     Name:
     Section:

     Exercise 7-3

     When amounts or calculations are correct the cell will change to green.

a.                          Joyce Manufacturing Co.
                               Production Budget
                      For the Month Ended October 31, 20--
                                                                       Units
     Sales
     Plus desired ending inventory, October 31
     Total                                                                     -
     Less estimated beginning inventory, October 1
     Total production                                                          -



b.                                          Joyce Manufacturing Co.
                                               Direct Labor Budget
                                      For the Month Ended October 31, 20--
                                                                   Cutting         Assembly       Total
     Hours required for production:
           Cutting hours
           Assembly hours
           Hourly rate
     Total direct labor hours                                      $           -   $     -    $       -
Name:
Section:

Exercise 7-4

When amounts or calculations are correct the cell will change to green.

                             Klassic Kingdom Manufacturing Co.
                                  Cost of Goods Sold Budget
                            For the Year Ended December 31, 2005

Finished goods inventory, Jan. 1
Work in process inventory, Jan. 1
Direct materials inventory, Jan. 1
Direct materials purchases
Direct materials available
Less direct materials inventory, Jan. 31
Cost of direct materials used
Direct labor
Factory overhead
Total manufacturing costs
Total work in process during year
Less work in process inventory, Dec. 31
Cost of goods manufactured
Cost of goods available for sale
Less finished goods inventory, Dec. 31
Cost of goods sold                                                        $   -
Name:
Section:

Exercise 7-5

When amounts or calculations are correct the cell will change to green.

                           Gyro Gear Company
                       Budgeted Income Statement
                  For the Year Ended December 31, 2005

Sales
Cost of goods sold
Gross profit
Selling and administrative expenses
Income from operations
Income tax
Net Income                                                       $        -
Name:
Section:

Exercise 7-7

 When amounts or calculations are correct the cell will change to green.

                                     Flexible Budget

                                           14,000 Units    15,000 Units    16,000 Units
Sales
Less variable costs:
Direct materials
Direct labor
Variable factory overhead
Variable selling and administrative exp.
Contribution margin                                    -             -              -
Less fixed costs:
Fixed factory overhead
Fixed selling and administrative exp.
Operating income                           $           -   $         -     $        -
Name:
Section:

Exercise 7-8

   When amounts or calculations are correct the cell will change to green.

                                    Grand Manufacturing, Inc.
                                       Performance Report
                                For the Month Ending May 31, 20--

                                                  Budget          Actual
                                               (5,000 units)   (5,000 units)       Variance
Sales
Less variable costs:
Direct materials
Direct labor
Variable factory overhead
Variable selling and administrative exp.
Contribution margin                                      -               -               -
Less fixed costs:
Fixed factory overhead
Fixed selling and administrative exp.
Operating income                               $         -     $         -     $         -
Name:
Section:

Problem 7-1

When amounts or calculations are correct the cell will change to green.

1.
                            True-Ride Tire Company
                                  Sales Budget
                     For the Year Ended December 31, 2005

                                        Unit Sales      Unit Selling
            Product                      Volume            Price         Total Sales
Passenger car tires
Truck tires
 Total                                           -                       $        -


2.
                            True-Ride Tire Company
                               Production Budget
                     For the Year Ended December 31, 2005

                                                                      Units
                                                            Passenger
                                                            Car Tires     Truck Tires
Sales in units (from sales budget)
Plus desired ending inventory, Dec. 31
Total                                                              -              -
Less estimated beginning inventory, Jan. 1
Total production                                                   -              -


3.
                                     True-Ride Tire Company
                                      Direct Materials Budget
                              For the Year Ended December 31, 2005

                                                                Direct Materials            Total
                                                             Rubber      Steel Belts
                                                            (pounds)      (pounds)
Quantities needed for production:
 Passenger car tires (total production x qty. per unit)
 Truck tires (total production x qty. per unit)
Plus desired ending inventory, Dec. 31
Total                                                              -              -
Less estimated beginning inventory, Jan. 1
Total quantities to be purchased                                   -              -
Unit cost
Total direct materials purchases                        $          -     $        -     $           -
4.
                                    True-Ride Tire Company
                                      Direct Labor Budget
                             For the Year Ended December 31, 2005

                                                           Department             Total
                                                      Molding     Finishing
Hours required for production:
 Passenger car tires
 Truck tires
 Total                                                      -            -
 Hourly rate
Total direct labor hours                          $         -    $       -    $           -


5.
                            True-Ride Tire Company
                           Factory Overhead Budget
                     For the Year Ended December 31, 2005

Indirect Materials
Indirect Labor
Depreciation of building and equipment
Power and light
Total factory overhead cost                                      $       -


6.
                            True-Ride Tire Company
                           Cost of Goods Sold Budget
                     For the Year Ended December 31, 2005

Finished goods inventory, Jan. 1
Direct materials inventory, Jan. 1
Direct materials purchases
Total direct materials available
Less direct materials inventory, Jan. 31
Cost of direct materials used
Direct labor
Factory overhead
Cost of goods manufactured
Cost of goods available for sale
Less finished goods inventory, Dec. 31
Cost of goods sold                                               $       -
Name:
Section:

Problem 7-2

When amounts or calculations are correct the cell will change to green.

1.
                             True-Ride Tire Company
                   Selling and Administrative Expenses Budget
                      For the Year Ended December 31, 2005

Selling expenses:
 Advertising expense
 Sales salaries expense
 Travel expense
 Total selling expenses                                                   $   -
Administrative expenses:
 Office salaries expense
 Officers' salaries expense
 Office rent expense
 Office supplies expense
 Telephone and fax expense
 Total administrative expenses                                                -
Total selling and administrative expenses                                 $   -


2.
                      True-Ride Tire Company
                    Budgeted Income Statement
               For the Year Ended December 31, 2005

Sales
Cost of goods sold
Gross profit
Selling and administrative expenses
Income from operations
Income tax
Net Income                                               $         -
Name:
Section:

Problem 7-3

When amounts or calculations are correct the cell will change to green.

                                   Flexible Budget


                                                29,000 Units              31,000 Units
Sales
Direct materials:
 Lumber
 Paint
Direct labor:
 Cutting
 Assembly
 Paint
Variable factory overhead
Variable selling and administrative exp.
Total variable expense                                    -                        -
Contribution margin                                       -                        -
Less fixed costs:
Fixed factory overhead
Fixed selling and administrative exp.
Operating income                                $         -               $        -
Name:
Section:

Problem 7-4

When amounts or calculations are correct the cell will change to green.


                                           Performance Report

                                                    Budget          Actual
                                                 (31,000 units) (31,000 units)       Variance

Sales

Direct materials:
 Lumber
 Paint
Direct labor:
 Cutting
 Assembly
 Paint
Variable factory overhead
Variable selling and administrative exp.
Total variable expense                                     -              -                -
Contribution margin                                        -              -                -
Less fixed costs:
Fixed factory overhead
Fixed selling and administrative exp.
Operating income                                  $        -    $         -      $         -
Name:
Section:

Problem 7-5

When amounts or calculations are correct the cell will change to green.

1.
                                 Factory Overhead Cost Budget

Percent of normal capacity                               80%              90%           110%
Number of units
Number of standard direct labor hours

Budgeted factory overhead:
    Fixed cost:
         Depreciation on building and machinery
         Taxes on building and machinery
         Insurance on building and machinery
         Superintendent's salary
         Supervisors' salary
         Maintenance wages
    Total fixed cost                                           -                -              -

     Variable cost:
          Repairs
          Maintenance
          Other supplies
          Payroll taxes
          Small tools
     Total variable cost                                       -                -              -
Total factory overhead cost                          $         -     $          -   $          -
Name:
Section:

Problem 7-5

When amounts or calculations are correct the cell will change to green.

2.
                                 Factory Overhead Cost Budget

Percent of normal capacity                               80%              90%           110%
Number of units
Budgeted factory overhead:
    Fixed cost:
          Taxes on building and machinery
          Insurance on building and machinery
          Superintendent's salary
          Maintenance supplies
    Total fixed cost                                           -                -              -
     Semi-fixed cost:
          Depreciation of building and machinery
          Supervisors' salaries
          Maintenance wages
     Total semi-fixed cost                                     -                -              -

     Variable cost:
          Repairs
          Other supplies
          Payroll taxes
          Small tools
     Total variable cost                                       -                -              -
Total factory overhead cost                          $         -     $          -   $          -
Name:
Section:

Problem 7-5

When amounts or calculations are correct the cell will change to green.

3.                  Interpolating Budgeted Cost at 96% Capacity

     Budgeted cost at 100% ……………………………..
     Budgeted cost at 90% ……………………………….
         Difference ………………………………………..
     % Range between volume levels ……………………….
     Additional cost for each percentage point over 90% …
     Cost at 90% …………………………………………….
     Cost for additional percentage points ………………..
     Budgeted cost at 96% capacity ……………………..                        $    -


4.                        Budgeted Cost at 104% Capacity

     Variable cost application rate at 100% capacity
     Actual units of production @ 104%

     Variable overhead applied for actual units of production
     Fixed overhead
     Total budgeted cost at 104% of capacity                         $    -

								
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