User Account

All Pages

What direct labor in the planning budget for january would

Assignment Help Managerial Accounting
Reference no: EM132753213

Neeb Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During January, the company budgeted for 7,000 units, but its actual level of activity was 7,040 units.

The company has provided the following data concerning the formulas used in its budgeting and its actual results for January:

Data used in budgeting:

                              Fixed element per month             Variable element per unit

Revenue                        -                                      $27.20

Direct labor                        $0                                 $3.20

Direct materials                   0                                     9.70

Manufacturing overhead        44,300                                1.10

Selling and administrative expenses  27,000                          0.40

Total expenses                              $71,300                      $14.40

Actual results for January:

Revenue $183,448

Direct labor $23,178

Direct materials $68,808

Manufacturing overhead $49,784

Selling and administrative expenses $30,246

Problem 1: The direct labor in the planning budget for January would be closest to:

Reference no: EM132753213

Questions Cloud

Cash shortage or surplus amount for the mpq corporation : A partial cash budget for the MPQ Corporation is shown below in $ 1 -Million(M) - Cash Receipts =$2 Million
What is winston cost of equity capital : Firm A's capital structure contains 30 percent debt and 70 percent equity. Firm B's capital structure contains 50 percent debt and 50 percent equity.
Prepare journal entries to record disposal of the equipment : Prepare the appropriate journal entrie(s) to record the disposal of the equipment on April 30th , 2020. Please show all calculations to receive full marks.
What alm net cash investment at the time of purchase : Assuming a 40% marginal tax rate. AlM's net cash investment at the time of purchase if the old equipment is sold and the new one purchased is
What direct labor in the planning budget for january would : What direct labor in the planning budget for January would be closest to? Neeb Corporation manufactures and sells a single product.
Present value of all the shop future profits : If profits are received at the end of each year, what is the present value of all the shop's future profits?
Sampling methodology : A synopsis on the perspective of the sampling methodology used in your selected articles related to public health research studies.
Prepare the journal entry in amortized cost method : The management of NBI truly believes in taking care of its customers when possible. NBI offers its smaller customers to take advantage of its "Loan4U" program.
Which is not a characteristic of long-term liability : Which is NOT a characteristic of long-term (LT) liability. To payoff long-term liability, companies can issue a short-term liability or use current assets.

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Find what would the new net income be

Using the other short-cut trick that you learned, assumming that Tori Spelling increased the sales price by 20 percent, what would the new net income be?

  How would managerial accounting tools help the user

If we could use these concepts in service and merchandising businesses, how would we go about doing so? How would managerial accounting tools help the user make decisions proactively?

  Compute what the receivables turnover was

Find what The receivables turnover was? The Accounts Receivable balances at the beginning and end of the year were P600,000 and P700,000, respectively.

  Compute how useful was cost information to internal users

Compute how useful was the cost information to the internal users in the organisation? Discuss with examples from your costing article.

  How applying for the pro bono work done without jeopardizing

Titian is a management accountant specialised. Explain how applying for the pro bono work could be done without jeopardizing these two ethical standards.

  Find how does balance scorecard improve the performance

Classify the objectives by perspective, and suggest a measure for each objective. How does balance scorecard improve the performance

  How production will have to be

How production will have to be? If the closing balance has to be 60% higher than the previous month. Consider the data on inventories for the month of July

  Discuss the use of budgets in planning and control

Discuss the use of budgets in planning and control. A firm's growth must be carefully guided by its leadership to ensure all factors of expansion are considered

  Assess the suitability of the investment

Assess the suitability of this investment using both discounting and non-discounting methods. Mumias Milling Company purchased a grinder at a cost of Sh.5.5

  Calculate the combined total net income

Calculate the combined total net income if the company accepts the offer to sell additional units at the reduced price of $13 per unit.

  Prepare journal entries to record the transactions

Prepare journal entries to record the transactions for April and post them to the ledger accounts. The company records prepaid and unearned items in balance sheet accounts.

  Explain why income computed under full costing will exceed

Explain why income computed under full costing will exceed income computed under variable costing if production exceeds sales.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd