Sheridan Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing...
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Sheridan 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 $1.20 Indirect materials 0.80 Utilities 0.30 Fixed overhead costs per month are Supervision $3,700, Depreciation $1,900, and Property Taxes $600. The company believes it will normally operate in a range of 8,500-14,200 direct labor hours per month. Assume that in July 2022, Sheridan Company incurs the following manufacturing overhead costs. Variable Costs Fixed Costs Indirect labor $14,560 Supervision $3,700 Indirect materials 9,670 Depreciation 1,900 Utilities 3,220 Property taxes 600 (a) Prepare a flexible budget performance report, assuming that the company worked 12,300 direct labor hours during the month. (List variable costs before fixed costs.) Sheridan 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 $1.20 Indirect materials 0.80 Utilities 0.30 Fixed overhead costs per month are Supervision $3,700, Depreciation $1,900, and Property Taxes $600. The company believes it will normally operate in a range of 8,500-14,200 direct labor hours per month. Assume that in July 2022, Sheridan Company incurs the following manufacturing overhead costs. Variable Costs Fixed Costs Indirect labor $14,560 Supervision $3,700 Indirect materials 9,670 Depreciation 1,900 Utilities 3,220 Property taxes 600 (a) Prepare a flexible budget performance report, assuming that the company worked 12,300 direct labor hours during the month. (List variable costs before fixed costs.)
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