Problem 23-2A a-b, d (Video) (Part Level Submission) Crane Company manufactures tablecloths. Sales have grown rapidly over the past 2 years. As a result, the president has installed a budgetary control system for 2020. The following data were used in developing the master manufacturing overhead budget for the Ironing Department, which is based on an activity index of direct labor hours. Rate per Direct Variable costs Labor Hour Annual Fixed Costs Indirect labor $0.40 Supervision $42,240 Indirect materials 0.50 Depreciation 18,360 Factory utilities 0.34 Insurance 15,600 Factory repairs 0.24 Rent 29,520 The master overhead budget was prepared on the expectation that 479,200 direct labor hours will be worked during the year. In June, 45,100 direct labor hours were worked. At that level of activity, actual costs were as shown below. Variable-per direct labor hour: indirect labor $0.43, indirect materials $0.47, factory utilities $0.36, and factory repairs $0.29. Fixed: same as budgeted. SOURCES ed CRANE COMPANY Monthly Manufacturing Overhead Flexible Budget Ironing Department For the Year 2020 23-01 23-02 23-03 Direct Labor Hours Variable costs Indirect Labor Indirect Materials 23-04 23-05 23-06 23-07 - 23-08 23-09 23-10 2 a 3. (Video) 04 a-b Factory Utilities Factory Repairs 05 (Video) 07 a-b t Level > -08 a. cod Submission) - 15.a-b it Level . -2A a-b. rt Level . 3-7A its by Study (b) Prepare a budget report for June comparing actual results with budget data based on the flexible budget. (List variable costs MacBook DD 80 F3 000 DOD F4 DII FB FI F2 FS F6 F7 % 5 2 3 4 6 7 8 9 TI C CA T V - CES The master overhead budget was prepared on the expectation that 479,200 direct labor hours will be worked during the year. In June, 45,100 direct labor hours were worked. At that level of activity, actual costs were as shown below. Variable-per direct labor hour: Indirect labor $0.43, indirect materials $0.47, factory utilities $0.36, and factory repairs $0.29. Fixed: same as budgeted. 2 03 (a) (b) (a) Prepare a monthly manufacturing overhead flexible budget for the year ending December 31, 2020, assuming production levels range from 37,400 to 50,600 direct labor hours. Use increments of 4,400 direct labor hours. (List variable costs before fixed costs.) CRANE COMPANY Monthly Manufacturing Overhead Flexible Budget Trening Department For the Year 2020 Direct Labor Hours 3-09 1.10 Video] Variable Costs 05. (Video) 57 Level Indirect Labor 08.cd Submission) Indirect Materials . Factory Utilities 32A-b. Factory Repairs . 214 23-7A esults by Study MacBook DO 19 12 DII FB og F EN 10 888 80 * fe F5 04 + # $ @ = % 5 & 7 8 9 0 6 2 3 4 { OP R U Y T E I Q W I L E G HIJ