At the beginning of the period, the Molding Department budgeted direct labor of $33,000 and supervisor salaries of $24,000 for 3,000 hours of production. The department actually completed 2,500 hours of production. Determine the budget for the department assuming that it uses flexible budgeting?

Molding= $47,500

Explanation:

Giving the following information:

At the beginning of the period, the Molding Department budgeted direct labor of $33,000 and supervisor salaries of $24,000 for 3,000 hours of production. The department completed 2,500 hours of production.

Under a flexible budget, the cost is determined by using the standard costs and actual level of production, or in this case, of hours.

Standard cost= (33,000 + 24,000)/3,000= $19 per direct labor hour

Now, we can calculate the flexible budget cost:

Molding= 19*2,500= $47,500

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1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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