Question
Create a Manufacturing Overhead Budget: Due to the similarity of the equipment in each of the production stages and the companys concentration on a single
Create a Manufacturing Overhead Budget:
Due to the similarity of the equipment in each of the production stages and the companys concentration on a single product, manufacturing overhead is allocated based on volume (i.e. the units produced). The variable manufacturing overhead rate for 2021 is $160/unit, consisting of:
Plant & Equipment Maintenance $ 70
Utilities 40
Indirect Materials 30
Other 20
$ 160
The fixed manufacturing overhead costs for 2021 are as follows:
Supervisors salary 181,800
Amortization of Plant & Equipment $ 132,000
Insurance 84,000
Training & Development 54,750
Property and Business Taxes 48,000
Other 30,000
$ 530,550
Aside from amortization, all other manufacturing costs are expected to increase by 3% in 2022 due to inflation.
| 2022 Janurary | 2022 Feburary | 2022 March | 2022 April | 2022 May | 2022 June | 2022 July | 2022 August | 2022 September | 2022 October | 2022 November | 2022 December | Total | |
| Direct Labour hours | 437.5 | 700 | 700 | 1,575 | 4,462.50 | 4,887.50 | 4,025 | 2,887.50 | 1,487.50 | 3,237.50 | 5,162.50 | 5,381.25 | 34943.75 |
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Internal Control And Internal Audit In Non Profit Organizations A Practical Model
Authors: Kamal Bayramov
1st Edition
6203464015, 978-6203464016
