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EXERCISE 85 Manufacturing Overhead Budget [LO86]

The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following

details concerning budgeted direct labor-hours:

1st Quarter 2nd Quarter 3rd Quarter 4th Quarter

Budgeted direct labor-hours . . . . . 8,000 8,200 8,500 7,800

1st Quarter 2nd Quarter 3rd Quarter 4th Quarter

Budgeted unit sales . . . . . . . . . . . . . . . 15,000 16,000 14,000 13,000

1st Quarter 2nd Quarter 3rd Quarter 4th Quarter

Total cash receipts . . . . . . . . . . . . . . $180,000 $330,000 $210,000 $230,000

Total cash disbursements . . . . . . . . . $260,000 $230,000 $220,000 $240,000

The companys variable manufacturing overhead rate is $3.25 per direct labor-hour and the companys

fixed manufacturing overhead is $48,000 per quarter. The only noncash item included in

fixed manufacturing overhead is depreciation, which is $16,000 per quarter.

Required:

1. Construct the companys manufacturing overhead budget for the upcoming fiscal year.

2. Compute the companys manufacturing overhead rate (including both variable and fixed

manufacturing overhead) for the upcoming fiscal year. Round off to the nearest whole cent.