29 Jun Question Thome Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows.
Question
Thome Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows.
Indirect labor
$1.20
Indirect materials
0.80
Utilities
0.30
Fixed overhead costs per month are: Supervision $4,478, Depreciation $1,698, and Property Taxes $543. The company believes it will normally operate in a range of 6,100–10,300 direct labor hours per month.
Assume that in July 2014, Thome Company incurs the following manufacturing overhead costs.
Variable
Fixed Costs
Costs
Indirect labor
$10,457
Supervision
$4,478
Indirect
materials
6,954
Depreciation
1,698
Utilities
2,249
Property taxes
543
(a)
Prepare a flexible budget performance report, assuming that the company wo during the month. (List variable costs before fixed costs.)
THOME COMPANY
Manufacturing Overhead Flexible Budget Report For the Month Ended July 31, 2014
Budget
Actual Costs
$
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