Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to

Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 9,000 hours of productive capacity in the department:

Variable overhead cost:
Indirect factory labor $78,300
Power and light 3,510
Indirect materials 28,800
Total variable overhead cost $110,610
Fixed overhead cost:
Supervisory salaries $38,710
Depreciation of plant and equipment 24,330
Insurance and property taxes 15,490
Total fixed overhead cost 78,530
Total factory overhead cost $189,140

Assuming that the estimated costs for November are the same as for October, prepare a flexible factory overhead cost budget for the Press Department for November for 7,000, 9,000, and 11,000 hours of production. Round your interim computations to the nearest cent, if required. Enter all amounts as positive numbers.

Leno Manufacturing Company Factory Overhead Cost Budget-Press Department For the Month Ended November 30
Direct labor hours 7,000 9,000 11,000
Variable overhead cost:
Indirect factory labor $fill in the blank 1 $fill in the blank 2 $fill in the blank 3
Power and light fill in the blank 4 fill in the blank 5 fill in the blank 6
Indirect materials fill in the blank 7 fill in the blank 8 fill in the blank 9
Total variable factory overhead $fill in the blank 10 $fill in the blank 11 $fill in the blank 12
Fixed factory overhead cost:
Supervisory salaries $fill in the blank 13 $fill in the blank 14 $fill in the blank 15
Depreciation of plant and equipment fill in the blank 16 fill in the blank 17 fill in the blank 18
Insurance and property taxes fill in the blank 19 fill in the blank 20 fill in the blank 21
Total fixed factory overhead $fill in the blank 22 $fill in the blank 23 $fill in the blank 24
Total factory overhead cost $fill in the blank 25 $fill in the blank 26 $fill in the blank 27

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

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

Government and Not for Profit Accounting Concepts and Practices

Authors: Michael Granof, Saleha Khumawala, Thad Calabrese, Daniel Smith

7th edition

1118983270, 978-1119175025, 111917502X, 978-1119175001, 978-1118983270

More Books

Students also viewed these Accounting questions

Question

10. What is meant by a feed rate?

Answered: 1 week ago