An organization’s budgets will often be prepared to cover: one month. one quarter. one year. periods longer than one year. All of these. Darling Company, which applies overhead to production on the basis of machine hours, reported the following data for the period just ended:?Actual units produced: 12,000?Actual variable overhead incurred: $730,000?Actual machine hours worked: 60,000?Budgeted fixed overhead $72,000?Planned level of machine-hour activity 50,000?If Darling estimates four hours to manufacture a completed unit, the company’s standard fixed overhead rate per machine hour would be: $12.00. $14.40. $14.60. $15.00. some other amount. Trois Elles Corporation recently prepared a manufacturing cost budget for an output of 50,000 units, as follows:?Direct materials $100,000?Direct labor 50,000?Variable overhead 75,000?Fixed overhead 100,000?Actual costs incurred were: direct materials, $110,000; direct labor, $60,000; variable overhead, $100,000; and fixed overhead, $97,000. If Trois Elles evaluated performance by the use of a flexible budget, a performance report would reveal a total variance of: $3,000 favorable. $23,000 favorable. $27,000 unfavorable. $42,000 unfavorable. none of these amounts. Digregory makes all purchases on account, subject to the following payment pattern:?Paid in the month of purchase: 30%?Paid in the first month following purchase: 60%?Paid in the second month following purchase: 10%?If purchases for January, February, and March were $200,000, $180,000, and $230,000, respectively, what were the firm’s budgeted payments in March? $69,000. $138,000. $177,000. $197,000. Some other amount. Which of the following budgets is based on many other master-budget components? direct labor budget. overhead budget. sales budget. cash budget. selling and administrative expense budget. Quattro began operations in April of this year. It makes all sales on account, subject to the following collection pattern: 30% are collected in the month of sale; 60% are collected in the first month after sale; and 10% are collected in the second month after sale. If sales for April, May, and June were $60,000, $80,000, and $70,000, respectively, what were the firm’s budgeted collections for May? $21,000. $60,000. $69,000. $75,000. Some other amount. Bird plans to sell 5,000 units each quarter next year. During the first two quarters each unit will sell for $12; during the last two quarters the sales price will increase $1.50 per unit. What is Bird’s estimated sales revenue for next year? $240,000. $255,000. $270,000. $244,000. Some other amount. A formal budget program will almost always result in: higher sales. more cash inflows than cash outflows. decreased expenses. improved profits. a detailed plan against which actual results can be compared. Yorkley Corporation plans to sell 41,000 units of its single product in March. The company has 2,800 units in its March 1 finished-goods inventory and anticipates having 2,400 completed units in inventory on March 31. On the basis of this information, how many units does Yorkley plan to produce during March? 40,600. 41,400. 43,800. 46,200. Some other amount. Martin Company, which applies overhead to production on the basis of machine hours, reported the following data for the period just ended:?Actual units produced: 9,000?Actual variable overhead incurred: $54,400?Actual machine hours worked: 16,000?Standard variable overhead cost per machine hour: $3.50 If Martin estimates two hours to manufacture a completed unit, the company’s variable-overhead efficiency variance is: $1,600 favorable. $1,600 unfavorable. $7,000 favorable. 7,000 unfavorable. some other amount not listed above. Verna’s makes all sales on account, subject to the following collection pattern: 20% are collected in the month of sale; 70% are collected in the first month after sale; and 10% are collected in the second month after sale. If sales for October, November, and December were $70,000, $60,000, and …
Looking for solution of this Assignment?
WHY CHOOSE US?
We deliver quality original papers |
Our experts write quality original papers using academic databases. |
Free revisions |
We offer our clients multiple free revisions just to ensure you get what you want. |
Discounted prices |
All our prices are discounted which makes it affordable to you. Use code FIRST15 to get your discount |
100% originality |
We deliver papers that are written from scratch to deliver 100% originality. Our papers are free from plagiarism and NO similarity |
On-time delivery |
We will deliver your paper on time even on short notice or short deadline, overnight essay or even an urgent essay |