1. Preparing an Overhead Budget
2. Patrick Inc. makes industrial solvents. Budgeted direct labor hours for the first 3 months of the coming year are:
3. January13,140February12,300March15,075
4. The variable overhead rate is $0.80 per direct labor hour. Fixed overhead is budgeted at $2,850 per month.
5. Required:
6. make an overhead budget for the months of January, February, and March, as well as the total for the first quarter. Do not include a multiplication symbol as part of your answer. Round total variable overhead and total overhead to the nearest dollar.
7. Patrick Inc.Overhead BudgetFor the Coming First QuarterOverhead:JanuaryFebruaryMarchTotalTotal direct labor hrsfill in the blank 1
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9. fill in the blank 3
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11. Variable overhead rate$
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13. $
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15. $
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17. $
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19. Total variable overhead$
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21. $
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23. $
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25. $
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27. Add: Fixed overheadfill in the blank 13
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31. Total overhead$
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33. $
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35. $
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37. $
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