Reference no: EM131337911
At the beginning of 2004, Beal Company adopted the following standards:
Direct Material (3 Kg @ 2.50 per Kg) 7.50
Direct Labor (5 hours @ shs. 7.50 per hour 37.50
Factory Overhead:
Variable (shs.3.00 per direct labor hour) 15.00
Fixed (shs.4.00 per direct labor hour 20.00
Standard cost per unit 80.00
Normal Volume per month is 40,000 direct labor hours. Beal’s January 2004 budget was based on normal volume. During the month, Beal produced 7,800 units with records indicating the following: Direct materials purchased 25,000 kgs @shs.2.60
Direct materials used 23,100 kgs
Direct labour 40,100 hours @ shs.7.30
Factory Overhead Shs.300, 000
Required:
Prepare a flexible budget for January 2004 production costs, based on actual production of 7,800 units.
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