ACCT 556 Week 4 Homework Problems
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
FOR MORE CLASSES VISIT www. acct556rank. com
Week 4 Capital Budgeting Practice problem: You have the following data about a proposed project: