Financial And Managerial Accounting
15th Edition
ISBN: 9781337902663
Author: WARREN, Carl S.
Publisher: Cengage Learning,
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Textbook Question
Chapter 22, Problem 14E
Factory
Sweet Tooth Candy Company budgeted the following costs for anticipated production for August:
Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory insurance and
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Factory Overhead Cost Budget
Sweet Tooth Candy Company budgeted the following costs
for anticipated production for August:
Advertising expenses
Manufacturing supplies
Power and light
Sales commissions
Factory insurance
Production supervisor wages
Production control wages
Executive officer salaries
Materials management wages
Factory depreciation
Prepare a factory overhead cost budget, separating variable
and fixed costs. Assume that factory insurance and
depreciation are the only fixed factory costs.
$297,290
16,290
48,600
328,580
28,300
142,930
37,160
303,010
40,880
23,150
Sweet Tooth Candy Company
Factory Overhead Cost Budget
For the Month Ending August 31
Variable factory overhead costs:
Total variable factory overhead costs
Fixed factory overhead costs:
Total fixed factory overhead costs
Total factory overhead costs
Anderson Candy Company budgeted the following costs for anticipated production for October:
Line Item Description
Amount
Advertising expenses
$250,940
Manufacturing supplies
13,750
Power and light
41,020
Sales commissions
280,570
Factory insurance
23,890
Production supervisor wages
120,650
Production control wages
31,370
Executive officer salaries
255,770
Materials management wages
34,500
Factory depreciation
19,540
Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory insurance and depreciation are the only fixed factory costs.
Anderson Candy CompanyFactory Overhead Cost BudgetFor the Month Ending October 31
Line Item Description
Amount
Amount
Variable factory overhead costs:
$- Select -
- Select -
- Select -
- Select -
- Select -
Total variable factory overhead costs
$Total variable factory overhead costs
Fixed factory overhead costs:
$- Select -…
Factory Overhead Cost Budget
Sweet Tooth Candy Company budgeted the following costs for anticipated production for August:
Advertising expenses
Manufacturing supplies
Power and light
Sales commissions
Factory insurance
Production supervisor wages
Production control wages
Executive officer salaries
Materials management wages
Factory depreciation
$260,590
14,280
42,600
288,010
24,800
125,290
32,570
265,600
35,830
20,300
Chapter 22 Solutions
Financial And Managerial Accounting
Ch. 22 - Prob. 1DQCh. 22 - Briefly describe the type of human behavior...Ch. 22 - What behavioral problems are associated with...Ch. 22 - What behavioral problems are associated with...Ch. 22 - Under what circumstances would a static budget be...Ch. 22 - Prob. 6DQCh. 22 - Why should the production requirements set forth...Ch. 22 - Why should the timing of direct materials...Ch. 22 - A. Discuss the purpose of the cash budget. B. If...Ch. 22 - Give an example of how the capital expenditures...
Ch. 22 - At the beginning of the period, the Fabricating...Ch. 22 - Pasadena Candle Inc. projected sales of 800,000...Ch. 22 - Pasadena Candle Inc. budgeted production of...Ch. 22 - Pasadena Candle Inc. budgeted production of...Ch. 22 - Prepare a cost of goods sold budget for Pasadena...Ch. 22 - Prob. 6BECh. 22 - At the beginning of the school year, Craig Kovar...Ch. 22 - Digital Solutions Inc. uses flexible budgets that...Ch. 22 - Static budget versus flexible budget The...Ch. 22 - Flexible budget for Assembly Department Steelcase...Ch. 22 - Production budget Healthy Measures Inc. produces a...Ch. 22 - Sales and production budgets Sonic Inc....Ch. 22 - Professional foes earned budget for a service...Ch. 22 - Professional labor cost budget for a service...Ch. 22 - Direct materials purchases budget Tobins Frozen...Ch. 22 - Direct materials purchases budget Coca-Cola...Ch. 22 - Direct materials purchases budget Anticipated...Ch. 22 - Direct labor cost budget Ace Racket Company...Ch. 22 - Production and direct labor cost budgets Levi...Ch. 22 - Factory overhead cost budget Sweet Tooth Candy...Ch. 22 - Cost of goods sold budget Delaware Chemical...Ch. 22 - Cost of goods sold budget The controller of...Ch. 22 - Schedule of cash collections of accounts...Ch. 22 - Schedule of cash collections of accounts...Ch. 22 - Schedule of cash payments for service company...Ch. 22 - Schedule of cash payments for a service company...Ch. 22 - Capital expenditures budget On January 1, 20Y6,...Ch. 22 - Forecast sales volume and sales budget For 20Y8,...Ch. 22 - Sales, production, direct materials purchases, and...Ch. 22 - Budgeted income statement and supporting budgets...Ch. 22 - Budgeted income statement and supporting budgets...Ch. 22 - Cash budget The controller of Bridgeport...Ch. 22 - Budgeted income statement and balance sheet As a...Ch. 22 - Forecast sales volume and sales budget Sentinel...Ch. 22 - Sales, production, direct materials purchases, and...Ch. 22 - Budgeted income statement and supporting budgets...Ch. 22 - Prob. 4PBCh. 22 - Cash budget The controller of Mercury Shoes Inc....Ch. 22 - Budgeted income statement and balance sheet As a...Ch. 22 - Analyze Johnson Stores staffing budget for...Ch. 22 - Nursing staff budget Mercy Hospital staffs its...Ch. 22 - Parking lot staff budget Adventure Park is a large...Ch. 22 - Housekeeping staff budget Ambassador Suites Inc....Ch. 22 - Ethics in Action The director of marketing for...Ch. 22 - Communication The city of Milton has an annual...Ch. 22 - Prob. 4TIFCh. 22 - Static budget for a service company A hank manager...Ch. 22 - Objectives of the master budget Dominos Pizza LLC...Ch. 22 - When compared to static budgets, flexible budgets:...Ch. 22 - Hannon Retailing Company prices its products by...Ch. 22 - Ming Company has budgeted sales at 6,300 units for...Ch. 22 - Krouse Company produces two products, forged...
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- Factory overhead cost budget Nutty Candy Company budgeted the following costs for anticipated production for August: Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory insurance and depreciation are the only factory fixed costs.arrow_forwardFactory Overhead Cost Budget Sweet Tooth Candy Company budgeted the following costs for anticipated production for August: Advertising expenses $285,180 Manufacturing supplies 15,630 Power and light 46,620 Sales commissions 315,180 Factory insurance 27,150 Production supervisor wages 137,110 Production control wages 35,650 Executive officer salaries 290,660 Materials management wages 39,200 Factory depreciation 22,210 Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory insurance and depreciation are the only fixed factory costs. Sweet Tooth Candy Company Factory Overhead Cost Budget For the Month Ending August 31 Variable factory overhead costs: Manufacturing supplies $ Power and light Production supervisor wages Production control wages Materials management wages Total variable factory overhead costs $ Fixed factory overhead costs: Factory insurance $…arrow_forwardSpree Party Lights overhead expenses are: Indirect material, pounds per unit Indirect material, cost per pound Indirect labor hours Indirect labor rate per hour Variable maintenance per unit Variable utilities per unit Supervisor salaries Maintenance salaries Insurance Depreciation Units to Produce Variable Costs Indirect Material Indirect Labor Maintenance Prepare a manufacturing overhead budget if the number of units to produce for January, February, and March are 2,400, 3,100, and 2,800, respectively. Spree Party Lights Manufacturing Overhead Budget For the Quarter Ending January - March January February 2,400 3,100 Utilities Total Variable Manufacturing Costs Fixed Costs 0.30 Supervisory Salaries Maintenance Salaries Insurance Depreciation Total Fixed Manufacturing Coats Total Manufacturing Overhead $2 $16.50 $0.75 $0.20 $11,000 $9,000 $3,000 $1,600 1,440 30,500 1.1900 11,000 5,000 3,000 1,500 24,600 67,020 1,860 51,150 620 53,955 11,000 9,000 3,000 1,000 24,400 10,355 March 2,1800…arrow_forward
- Spree Party Lights overhead expenses are: Indirect material, pounds per unit Indirect material, cost per pound Indirect labor hours Indirect labor rate per hour Variable maintenance per unit Variable utilities per unit Supervisor salaries Maintenance salaries Insurance Depreciation Units to Produce Variable Costs Indirect Material Indirect Labor Maintenance Prepare a manufacturing overhead budget if the number of units to produce for January, February, and March are 2,400, 2,900, and 2,600, respectively. Spree Party Lights Manufacturing Overhead Budget For the Quarter Ending January - March January February Utilities Total Variable Manufacturing Costs Fixed Costs Supervisory Salaries Maintenance Salaries Insurance Depreciation 0.30 $2 1 Total Fixed Manufacturing Costs Total Manufacturing Overhead $16.00 $0.75 $0.20 $9,000 $8,000 $4,000 $1,400 Marcharrow_forwardFactory Overhead Cost Budget Toot Sweet Company budgeted the following costs for anticipated production for August: Advertising expenses $270,080 Manufacturing supplies 14,800 Power and light 44,150 Sales commissions 301,970 Factory insurance 25,710 Production supervisor wages 129,850 Production control wages 33,760 Executive officer salaries 275,270 Materials management wages 37,130 Factory depreciation 21,030 Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory insurance and depreciation are the only fixed factory costs. Toot Sweet CompanyFactory Overhead Cost BudgetFor the Month Ending August 31 Variable factory overhead costs: Manufacturing supplies $ Power and light Production supervisor wages Production control wages Materials management wages Total variable factory overhead costs $ fill in the blank Fixed factory overhead costs: Factory insurance $…arrow_forwardToot Sweet Company budgeted the following costs for anticipated production for August: Advertising expenses $241,360 Manufacturing supplies 13,230 Power and light 39,450 Sales commissions 260,760 Factory insurance 22,970 Production supervisor wages 116,040 Production control wages 30,170 Executive officer salaries 246,000 Materials management wages 33,190 Factory depreciation 18,800 Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory insurance and depreciation are the only fixed factory costs. Toot Sweet Company Factory Overhead Cost Budget For the Month Ending August 31 Variable factory overhead costs: Total variable factory overhead costs Fixed factory overhead costs: Total fixed factory overhead costs Total factory overhead costsarrow_forward
- Factory Overhead Cost Budget Nutty Candy Company budgeted the following costs for anticipated production for August: Advertising expenses $274,210 Production supervisor wages $131,830 Manufacturing supplies 15,030 Production control wages 34,280 Power and light 44,820 Executive officer salaries 279,480 Sales commissions 303,060 Materials management wages 37,700 Factory insurance 26,100 Factory depreciation 21,360 Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory insurance and depreciation are the only factory fixed costs. Enter all amounts as positive numbers. NUTTY CANDY COMPANY Factory Overhead Cost Budget For the Month Ending August 31 Variable factory overhead costs: $fill in the blank 2 fill in the blank 4 fill in the blank 6 fill in the blank 8 fill in the blank 10 Total variable factory overhead costs $fill in the blank 11 Fixed factory overhead costs:…arrow_forwardFactory overhead cost budget Anderson Candy Company budgeted the following costs for anticipated production for October: Advertising expenses $246,000 Manufacturing supplies 13,480 Power and light 40,210 Sales commissions 265,770 Factory insurance 23,420 Production supervisor wages 118,270 Production control wages Executive officer salaries Materials management wages Factory depreciation Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory insurance and depreciation are the only fixed factory costs. Line Item Description Variable factory overhead costs: Manufacturing supplies Power and light Anderson Candy Company Factory Overhead Cost Budget For the Month Ending October 31 Production supervisor wages Production control wages Materials management wages ✓ Total variable factory overhead costs Fixed factory overhead costs: Factory insurance Factory depreciation 30,750 250,730 33,830 19,160 Total fixed factory overhead costs Total factory…arrow_forwardFactory Overhead Cost Budget It Is This Company budgeted the following costs for anticipated production for August: Advertising expenses Manufacturing supplies Power and light $236,320 12,950 38,630 Sales commissions 264,220 Factory insurance 22,490 Production supervisor wages 113,620 Production control wages 29,540 Executive officer salaries 240,860 < Materials management wages Factory depreciation 32,490 18,410 Variable factory overhead costs: Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory insurance and depreciation are the only fixed costs. Enter all amounts as positive number IT IS THIS COMPANY Factory Overhead Cost Budget For the Month Ending August 31 Lind Them Description Amount Amount Total variable factory overhead costs Fixed factory overhead costs: Total fixed factory overhead costs Total factory overhead costs 00arrow_forward
- ABC Corporation has prepared the following overhead budget for next month. Activity level Variable overhead costs: Supplies Indirect labor Fixed overhead costs: Supervision Utilities Depreciation Total overhead cost 3,700 machine-hours $ 21,090 35,520 18,100 7,100 8,100 $ 89,910 The company's variable overhead costs are driven by machine-hours. What would be the total budgeted overhead cost for next month if the activity level is 3,600 machine-hours rather than 3,700 machine-hours? (Round your intermediate calculations to 2 decimal places.)arrow_forwardA manufacturer uses activity-based costing to assign overhead cost to products. Budgeted cost information for its activities follows. Activity Purchasing Factory services Setup Budgeted Cost $ 183,600 102,450 67,450 Activity Cost Driver Purchase orders. Square feet Setups Compute an activity rate for each activity. (Round your answers to 2 decimal places.) Budgeted Activity Usage 5,100 purchase orders. 5,600 square feet 50 Setups Activity Budgeted Cost Purchasing $ 183,600 Factory services $ 102,450 Setup $ 67,450 Budgeted Activity Usage Activity Ratearrow_forwardA company reports the following budgeted overhead costs and budgeted cost driver activity. Activity (Cost driver) Quality (number of units inspected) Factory services (square feet) Purchasing (number of orders) Activity Quality Factory services Purchasing Budgeted Cost $ 52,116 $ 123,216 $ 17,472 Use activity-based costing to compute the activity rate for each activity. Note: Round your "Activity Rate" to 2 decimal places. Budgeted Cost $ 52,116 123,216 17,472 Budgeted Activity of Cost Driver Standard Deluxe Total 3,180 860 3,820 2,220 188 228 Budgeted Activity Usage Activity Rate 4,040 6,040 416arrow_forward
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