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Preparing an Overhead Budget Patrick Inc. makes industrial solvents. Budgeted direct labor hours for the first 3 months of the coming year are: January 13,140

Preparing an Overhead Budget

Patrick Inc. makes industrial solvents. Budgeted direct labor hours for the first 3 months of the coming year are:

January

13,140

February

12,300

March

15,075

The variable overhead rate is $0.80 per direct labor hour. Fixed overhead is budgeted at $2,850 per month.

Required:

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.

Patrick Inc.

Overhead Budget

For the Coming First Quarter

Overhead:

January

February

March

Total

Total direct labor hrs

Variable overhead rate

Total

variable overhead

Add: Fixed overhead

Total

overhead

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