Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Current Attempt in Progress Riverbed Inc's manufacturing overhead budget for the first quarter of 2022 contained the following data. Variable Costs Fixed Costs Indirect materials

image text in transcribed

Current Attempt in Progress Riverbed Inc's manufacturing overhead budget for the first quarter of 2022 contained the following data. Variable Costs Fixed Costs Indirect materials $12,720 Supervisory salaries $38,160 Indirect labor 10,600 Depreciation 7,420 Utilities 8,480 Property taxes and insurance 8,480 Maintenance 6,360 Maintenance 5.300 Actual variable costs were indirect materials $14,310, indirect labor $10,070, utilities $9,222, and maintenance $5,300. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $8,798. 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.) RIVERBED INC. Manufacturing Overhead Flexible Budget Report Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual $ $ $ (6) Prepare a responsibility report for the first quarter. RIVERBED INC. Manufacturing Overhead Responsibility Report Difference Favorable Unfavorable Neither Favorable nor Unfavorable ble Costs Budget Actual $ $ $ V $ $ $ e Textbook and Media

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Horngrens Cost Accounting A Managerial Emphasis

Authors: Srikant M. Datar, Madhav V. Rajan

16th edition

134475585, 978-0134475998, 134475992, 978-0134475585

Students also viewed these Accounting questions