=================================================== ACCT 556 Week 4 Homework Problems
The Hale Company finished their sales projections for the coming year . The company produces one product . Part of next year ’ s sales projections are as follows : Engineering has developed the following standards upon which the production budgets will be developed : Item Standard Materials usage 5 lbs per unit Material price per pound $ 1.50 per pound Labor usage 0.4 hours per unit Labor rate $ 30 per hour Machine hours 3 machine hours per unit
The Hale Company uses a modified allocation method for allocating overhead costs . The rates that will be used in the coming year are as follows :
Required : Prepare the following production budgets for July , August , and September for the Hale Company : 1 . Production budget 2 . Materials purchase budget 3 . Direct labor budget 4 . Overhead budget For the quarter ( quarter totals only ), prepare the : 5 . Cost of goods manufactured budget
=================================================== ACCT 556 Week 4 Homework Problems
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