iiv 1'3 mybusinesscourse.com 0i r11 i 333 (3} Support' :: My Subscriptions 0 Quinn Thornton ' Flexible Budget Application The polishing department of Taylor Manufacturing Company operated during April 2016 with the following manufacturing overhead cost budget based on 5,000 hours of monthly productive capacity: Taylor Manufacturing Company Polishing Department Overhead Budget (5,000 Hours) For the Month of April 2016 Variable costs: H Factory supplies H $100,000 Indirect labor H 152,000 Utilities H 68,000 Patent royalties on secret process H 296,000 Total variable overhead H $616,000 Fixed costs: H Supervisory salaries H 160,000 Depreciation on factory equipment H 144,000 Factory taxes H 48,000 Factoryinsurance N V H 732,000 Utilities (base charge) l 80,000 Total fixed overhead ' 464,000 Total manufacturing overhead H $1,080,000 The polishing department was operated for 4,600 hours during April and incurred the following manufacturing overhead costs: Factory supplies i $97,520 indirect labor l 136,160 Utilities (usage factor) ' 82,800 Utilities (base factor) 1 96,000 Patent royalties ' 280,416 Supervisow salaries ' 168,000 Depreciation on factory equipment ' 144,000 Factory taxes l 56,000 Factory insurance 32,000 1 Total manufacturing overhead incurred $1,092,896 mybusinesscourse.com C m. .H \"mm '7 7': m 1:. I M6: M30 Problems Ch. 11 1% Return to course 0 Quinn Thornton ' (3} Support' :: My Subscriptions ItlltleS nase actor Patent royalties 280,416 Supervisory salaries Depreciation on factory equipment 168,000 144,000 Factory taxes '1 "-III i i i i 56,000 Factory insurance Total manufacturing overhead incurred 32,000 $1,092,896 Using a flexible budgeting approach, prepare a performance report for the polishing department for April 2016, comparing actual overhead costs with budgeted overhead costs for 4,600 hours. Separate overhead costs into variable and fixed components and show the amounts of any variances between actual and budgeted amounts. Do not use negative signs with your answers below. Do not round until your final answer. Round answers to nearest whole number, if applicable. Select either U for Unfavorable or F for Favorable using the drop down box next to each ofyour variance answers. Taylor Manufacturing Company Polishing Department Performance Report - Manufacturing Overhead For the Month Ended April 30, 2016 Actual Costs Budget (4,600 hours) Variances Variable costs: Factory supplies i i Indirect labor ' Utilities i Patent royalt 5 Total variable overhead Fixed costs: 0 0 0 0 0 Supervisory salaries 0 Depreciation on equipment Factory taxes Factory insurance 0 utilities Total fixed overhead Total overhead costs 0 0 0 eck