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*Exercise 10-10 (Video) Chubbs Inc.'s manufacturing overhead budget for the first quarter of 2020 contained the following data. Supervisory $35,700 Variable Costs Fixed Costs Indirect
*Exercise 10-10 (Video) Chubbs Inc.'s manufacturing overhead budget for the first quarter of 2020 contained the following data. Supervisory $35,700 Variable Costs Fixed Costs Indirect $12,000 materials salaries Indirect labor 10,400 Depreciation 7,100 Property Utilities 7,000 taxes and 7,400 insurance Maintenance 5,600 Maintenance 4,500 Actual variable costs were indirect materials $14,500, indirect labor $9,600, utilities $9,900, and maintenance $5,000. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $9,100. 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 Favorable Unfavorable Neither Favorable Budget Actual 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 Favorable Unfavorable Neither Favorable nor Unfavorable Controllable Costs Budget Actual
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