29 Jun uestion Problem 24-1A
uestion
Problem 24-1A
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Cook Company estimates that 362,200 direct labor hours will be worked during the coming year, 2014, in the Packaging Department. On this basis, the following budgeted manufacturing overhead cost data are computed for the year.
Fixed Overhead Costs
Variable Overhead Costs
Supervision
$88,440
Indirect labor
$112,282
Depreciation
62,400
Indirect materials
108,660
Insurance
30,480
Repairs
43,464
Rent
21,600
Utilities
76,062
Property taxes
13,080
Lubricants
28,976
$216,000
$369,444
It is estimated that direct labor hours worked each month will range from 22,600 to 31,900 hours.
During October, 22,600 direct labor hours were worked and the following overhead costs were incurred.
Fixed overhead costs: supervision $7,370, depreciation $5,200, insurance $2,496, rent $1,800, and property taxes $1,090.
Variable overhead costs: indirect labor $7,975, indirect materials, $6,457, repairs $2,658, utilities $5,038, and lubricants $2,137.
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Prepare a monthly manufacturing overhead flexible budget for each increment of 3,100 direct labor hours over the relevant range for the year ending December 31, 2014.(List variable costs before fixed costs.)
Prepare a flexible budget report for October
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Prepare a flexible budget report for October.
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