Question
Chubbs Inc.s manufacturing overhead budget for the first quarter of 2020 contained the following data. Variable Costs Fixed Costs Indirect materials $11,400 Supervisory salaries $36,800
Chubbs Inc.s manufacturing overhead budget for the first quarter of 2020 contained the following data.
Variable Costs | Fixed Costs | |||||
---|---|---|---|---|---|---|
Indirect materials | $11,400 | Supervisory salaries | $36,800 | |||
Indirect labor | 11,000 | Depreciation | 6,100 | |||
Utilities | 7,700 | Property taxes and insurance | 7,000 | |||
Maintenance | 5,900 | Maintenance | 5,200 |
Actual variable costs were indirect materials $14,700, indirect labor $9,300, utilities $9,100, and maintenance $4,500. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $9,000. The actual activity level equaled the budgeted level. All costs are considered controllable by the production department manager except for depreciation, and property taxes and insurance. (a) Prepare a manufacturing overhead flexible budget report for the first quarter. (List variable costs before fixed costs.)
CHUBBS INC. Manufacturing Overhead Flexible Budget Report For the Quarter Ended March 31, 2020 | |||||||
---|---|---|---|---|---|---|---|
Difference | |||||||
Budget | Actual | Favorable Unfavorable Neither Favorable nor Unfavorable | |||||
Select an opening line for section one | |||||||
Select an overhead flexible budget report item | $Enter a dollar amount | $Enter a dollar amount | $Enter the difference | Select an optionFavorableUnfavorableNeither Favorable nor Unfavorable FavorableUnfavorableNeither Favorable nor Unfavorable | |||
Select an overhead flexible budget report item | Enter a dollar amount | Enter a dollar amount | Enter the difference | Select an optionFavorableUnfavorableNeither Favorable nor Unfavorable FavorableUnfavorableNeither Favorable nor Unfavorable | |||
Select an overhead flexible budget report item | Enter a dollar amount | Enter a dollar amount | Enter the difference | Select an optionFavorableUnfavorableNeither Favorable nor Unfavorable FavorableUnfavorableNeither Favorable nor Unfavorable | |||
Select an overhead flexible budget report item | Enter a dollar amount | Enter a dollar amount | Enter the difference | Select an optionFavorableUnfavorableNeither Favorable nor Unfavorable FavorableUnfavorableNeither Favorable nor Unfavorable | |||
Select a closing line for section one | Enter a total amount for section one | Enter a total amount for section one | Enter the difference | Select an optionFavorableUnfavorableNeither Favorable nor Unfavorable FavorableUnfavorableNeither Favorable nor Unfavorable | |||
Select an opening line for section two | |||||||
Select an overhead flexible budget report item | Enter a dollar amount | Enter a dollar amount | Enter the difference | Select an optionFavorableUnfavorableNeither Favorable nor Unfavorable FavorableUnfavorableNeither Favorable nor Unfavorable | |||
Select an overhead flexible budget report item | Enter a dollar amount | Enter a dollar amount | Enter the difference | Select an optionFavorableUnfavorableNeither Favorable nor Unfavorable FavorableUnfavorableNeither Favorable nor Unfavorable | |||
Select an overhead flexible budget report item | Enter a dollar amount | Enter a dollar amount | Enter the difference | Select an optionFavorableUnfavorableNeither Favorable nor Unfavorable FavorableUnfavorableNeither Favorable nor Unfavorable | |||
Select an overhead flexible budget report item | Enter a dollar amount | Enter a dollar amount | Enter the difference | Select an optionFavorableUnfavorableNeither Favorable nor Unfavorable FavorableUnfavorableNeither Favorable nor Unfavorable | |||
Select a closing line for section two | Enter a total amount for section two | Enter a total amount for section two | Enter the difference | Select an optionFavorableUnfavorableNeither Favorable nor Unfavorable FavorableUnfavorableNeither Favorable nor Unfavorable | |||
Select a closing line for the overhead flexible budget report | $Enter a total dollar amount | $Enter a total dollar amount | $Enter the difference | Select an optionFavorableUnfavorableNeither Favorable nor Unfavorable FavorableUnfavorableNeither Favorable nor Unfavorable |
(b) Prepare a responsibility report for the first quarter.
CHUBBS INC. Manufacturing Overhead Responsibility Report For the Quarter Ended March 31, 2020 | |||||||
---|---|---|---|---|---|---|---|
Difference | |||||||
Controllable Costs | Budget | Actual | Favorable Unfavorable Neither Favorable nor Unfavorable | ||||
Select an opening overhead responsibility report item | $Enter a dollar amount | $Enter a dollar amount | $Enter the difference | Select an optionFavorableUnfavorableNeither Favorable nor Unfavorable FavorableUnfavorableNeither Favorable nor Unfavorable | |||
Select an overhead responsibility report item | Enter a dollar amount | Enter a dollar amount | Enter the difference | Select an optionFavorableUnfavorableNeither Favorable nor Unfavorable FavorableUnfavorableNeither Favorable nor Unfavorable | |||
Select an overhead responsibility report item | Enter a dollar amount | Enter a dollar amount | Enter the difference | Select an optionFavorableUnfavorableNeither Favorable nor Unfavorable FavorableUnfavorableNeither Favorable nor Unfavorable | |||
Select an overhead responsibility report item | Enter a dollar amount | Enter a dollar amount | Enter the difference | Select an optionFavorableUnfavorableNeither Favorable nor Unfavorable FavorableUnfavorableNeither Favorable nor Unfavorable | |||
Select a closing overhead responsibility report item | Enter a dollar amount | Enter a dollar amount | Enter the difference | Select an optionFavorableUnfavorableNeither Favorable nor Unfavorable FavorableUnfavorableNeither Favorable nor Unfavorable | |||
$Enter a total dollar amount | $Enter a total dollar amount | $Enter the difference | Select an optionFavorableUnfavorableNeither Favorable nor Unfavorable FavorableUnfavorableNeither Favorable nor Unfavorable |
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