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5. The following selected data were taken from the accounting records of Schein Industrial Manufacturing: Month May June July August Machine Hours 46,000 60,000 68,000
5. The following selected data were taken from the accounting records of Schein Industrial Manufacturing: Month May June July August Machine Hours 46,000 60,000 68,000 52,000 Manufacturing Overhead $ 889,000 1,130,000 1,274,000 980,000 Manufacturing overhead consists of three different costs; (1) machine supplies (variable), (2) property taxes (fixed), and (3) plant maintenance (semivariable). July's overhead costs were $170,000 for machine supplies, $24,000 for property taxes, and $1,080,000 for plant maintenance. Required (4 points each): A. Determine the machine supplies and property taxes for May. B. By using the high-low method, analyze Schein's plant maintenance cost and calculate the monthly fixed portion and the variable cost per machine hour. C. Assume that present cost behavior patterns continue into future months. Estimate the total amount of manufacturing overhead the company can expect in September if 56,000 machine hours are worked
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