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Exercise 8-15 (Algo) Direct Labor and Manufacturing Overhead Budgets (L08-5, L08-6] 1st Quarter 11,500 4th Quarter The Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year. 2nd Quarter 3rd Quarter Units to be produced 10,500 12,500 13,500 Each unit requires 0.25 direct labor-hours and direct laborers are pald $14.00 per hour. In addition, the variable manufacturing overhead rate is $160 per direct labor-hour. The fixed manufacturing overhead is $95,000 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $35,000 per quarter. Required: 1. Calculate the company's total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year as a whole. 2. and 3. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole. Complete this question by entering your answers in the tabs below. Req1 Reg 2 and 3 Calculate the company's total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year as a whole. (Round Direct labor time per unit (hours)" answers to 2 decimal places.) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total direct labor cont Reg 2 and 3 > Check Exercise 8-1 (Algo) Schedule of Expected Cash Collections (LO8-2] Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below: Jane Aprii May Total Budgeted sales (all on account) $ 400,000 $ 600,000 $ 190,000 $ 1,190,000 From past experience, the company has learned that 30% of a month's sales are collected in the month of sale, another 60% are collected in the month following sale, and the remaining 10% are collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totaled $330,000, and March sales totaled $360,000. Required: 1. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. 2. What is the accounts receivable balance on June 30th? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the accounts receivable balance on June 30th? Total accounts receivable at June 30 Check my Exercise 8-15 (Algo) Direct Labor and Manufacturing Overhead Budgets (LO8-5, LO8-6) 12,500 4th Quarter 13,500 The Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: Int Quarter 2nd Quarter 3rd Quarter Units to be produced 11,500 10,500 Each unit requires 0.25 direct labor-hours and direct laborers are pald $14.00 per hour In addition, the variable manufacturing overhead rate is $1.60 per direct labor-hour. The fixed manufacturing overhead is $95,000 per quarter . The only noncash element of manufacturing overhead is depreciation, which is $35,000 per quarter. Required: 1. Calculate the company's total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year as a whole. 2 and 3. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole. Complete this question by entering your answers in the tabs below. Reg 1 Rbq 2 and 3 Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter of the the upcoming fiscal year and for the year as a whole. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total manufacturing overhead Cash disbursements for manufacturing overhead

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