Which of the following equations is used to prepare a direct labor budget?Multiple ChoiceRequired production in units of raw materials x Direct labor-hours per unit = Total direct labor-hours neededRequired production to meet ending inventory needs x Direct labor-hours per unit = Total direct labor-hours neededEstimated sales in units of finished goods x Direct labor-hours per unit = Total direct labor-hours neededRequired production in units x Direct labor-hours per unit = Total direct labor-hours needed

While preparing the direct labor budget we should not consider the estimated sales in finished…

Answered: Which of the following equations is…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 11MC: Which of the following statements is not correct? A. The sales budget is computed by multiplying...

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Similar questions

The budget that adjusts unit sales for beginning and ending inventories of finished goods is the: a. production budget b. purchases budget c. ending inventory of finished goods budget d. cost of goods sold budget
Given the following information from Power Enterprises direct materials budget, how much direct materials needs to be purchased?
The units required in production each period are computed by which of the following methods? adding budgeted sales to the desired ending inventory and subtracting beginning inventory adding beginning inventory, budgeted sales, and desired ending inventory adding beginning inventory to budgeted sales and subtracting desired ending inventory adding budgeted sales to the beginning inventory and subtracting the desired ending inventory.
The underlying details for the standard cost per unit are provided in a. the standard work-in-process account. b. the standard production budget. c. the standard cost sheet. d. the balance sheet. e. None of these.
Prepare a flexible budget for overhead based on the following data:
A flexible budget______. A. predicts estimated revenues and costs at varying levels of production B. gives actual figures for selling price C. gives actual figures for variable and fixed overhead D. is not used in overhead variance calculations
Select the one budget below that is not an operating budget. a. Cost of goods sold budget b. Cash budget c. Production budget d. Overhead budget e. All of these.
The direct materials budget is prepared using which budgets information? A. cash payments budget B. cash receipts budget C. production budget D. raw materials budget
Which of the following statements is not correct? A. The sales budget is computed by multiplying estimated sales by the sales price. B. The production budget begins with the sales estimated for each period. C. The direct materials budget begins with the sales estimated for each period. D. The sales budget is typically the first budget prepared.
Fill in the blanks: A flexible budget summarizes _____ and _____ for various volume levels by adjusting the _____ costs for the various levels of activities. The costs remain the same for all levels of activities.
What is a standard cost? Group of answer choices The total number of units times the budgeted amount expected Any amount that appears on a budget The total amount that appears on the budget for product costs The amount management thinks should be incurred to produce a good or service
In a Master Budget, where the overhead allocation rate is based on direct labor hours, the Manufacturing Overhead Rate will be a. The Variable Manufacturing Overhead divided by Total Hours of Direct Labor b. The sum of Variable and Fixed Manufacturing Overhead divided by Total Hours of Direct Labor c. Total Manufacturing Overhead Costs divided by the Direct Labor Rate d. The Variable Manufacturing Overhead Rate divided by the Direct Labor Rate

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