Question
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows.
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows.
| Indirect labor | $1.00 | |
| Indirect materials | 0.70 | |
| Utilities | 0.20 |
Fixed overhead costs per month are Supervision $4,000, Depreciation $1,000, and Property Taxes $500. The company believes it will normally operate in a range of 7,00010,600 direct labor hours per month. Prepare a monthly manufacturing overhead flexible budget for 2017 for the expected range of activity, using increments of 1,200 direct labor hours. (List variable costs before fixed costs.)
| MYERS COMPANY Monthly Manufacturing Overhead Flexible Budget For the Year 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|
| select an opening budget item Activity LevelDepreciationDirect Labor HoursFixed CostsIndirect LaborIndirect MaterialsProperty TaxesSupervisionTotal CostsTotal Fixed CostsTotal Variable CostsUtilitiesVariable Costs | ||||||||
| select a Budget item Activity LevelDepreciationDirect Labor HoursFixed CostsIndirect LaborIndirect MaterialsProperty TaxesSupervisionTotal CostsTotal Fixed CostsTotal Variable CostsUtilitiesVariable Costs | Enter a number of hours | Enter a number of hours | Enter a number of hours | Enter a number of hours | ||||
| select an opening name for section one Activity LevelDepreciationDirect Labor HoursFixed CostsIndirect LaborIndirect MaterialsProperty TaxesSupervisionTotal CostsTotal Fixed CostsTotal Variable CostsUtilitiesVariable Costs | ||||||||
| select a Budget item Activity LevelDepreciationDirect Labor HoursFixed CostsIndirect LaborIndirect MaterialsProperty TaxesSupervisionTotal CostsTotal Fixed CostsTotal Variable CostsUtilitiesVariable Costs | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | ||||
| select a Budget item Activity LevelDepreciationDirect Labor HoursFixed CostsIndirect LaborIndirect MaterialsProperty TaxesSupervisionTotal CostsTotal Fixed CostsTotal Variable CostsUtilitiesVariable Costs | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | ||||
| select a Budget item Activity LevelDepreciationDirect Labor HoursFixed CostsIndirect LaborIndirect MaterialsProperty TaxesSupervisionTotal CostsTotal Fixed CostsTotal Variable CostsUtilitiesVariable Costs | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | ||||
| select a closing name for section one Activity LevelDepreciationDirect Labor HoursFixed CostsIndirect LaborIndirect MaterialsProperty TaxesSupervisionTotal CostsTotal Fixed CostsTotal Variable CostsUtilitiesVariable Costs | enter a total amount for section one | enter a total amount for section one | enter a total amount for section one | enter a total amount for section one | ||||
| select an opening name for section two Activity LevelDepreciationDirect Labor HoursFixed CostsIndirect LaborIndirect MaterialsProperty TaxesSupervisionTotal CostsTotal Fixed CostsTotal Variable CostsUtilitiesVariable Costs | ||||||||
| select a Budget item Activity LevelDepreciationDirect Labor HoursFixed CostsIndirect LaborIndirect MaterialsProperty TaxesSupervisionTotal CostsTotal Fixed CostsTotal Variable CostsUtilitiesVariable Costs | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | ||||
| select a Budget item Activity LevelDepreciationDirect Labor HoursFixed CostsIndirect LaborIndirect MaterialsProperty TaxesSupervisionTotal CostsTotal Fixed CostsTotal Variable CostsUtilitiesVariable Costs | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | ||||
| select a Budget item Activity LevelDepreciationDirect Labor HoursFixed CostsIndirect LaborIndirect MaterialsProperty TaxesSupervisionTotal CostsTotal Fixed CostsTotal Variable CostsUtilitiesVariable Costs | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | ||||
| select a closing name for section two Activity LevelDepreciationDirect Labor HoursFixed CostsIndirect LaborIndirect MaterialsProperty TaxesSupervisionTotal CostsTotal Fixed CostsTotal Variable CostsUtilitiesVariable Costs | enter a total amount for section two | enter a total amount for section two | enter a total amount for section two | enter a total amount for section two | ||||
| select a closing Budget item Activity LevelDepreciationDirect Labor HoursFixed CostsIndirect LaborIndirect MaterialsProperty TaxesSupervisionTotal CostsTotal Fixed CostsTotal Variable CostsUtilitiesVariable Costs | $enter a total amount for the Manufacturing Overhead Flexible Budget | $enter a total amount for the Manufacturing Overhead Flexible Budget | $enter a total amount for the Manufacturing Overhead Flexible Budget | $enter a total amount for the Manufacturing Overhead Flexible Budget | ||||
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Intermediate Accounting
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
10th Canadian Edition, Volume 1
978-1118735329, 9781118726327, 1118735323, 1118726324, 978-0176509736
