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Thumbs up to whoever answers this problem correctly ty. Waterways Continuing Problem WCP 22 Waterways Corporation is continuing its budget preparations. Waterways had the following
Thumbs up to whoever answers this problem correctly ty.
Waterways Continuing Problem WCP 22 Waterways Corporation is continuing its budget preparations. Waterways had the following static budget and overhead costs for March 2016. WATERWAYS CORPORATION WATERWAYS CORPORATION Manufacturing Overhead Costs (Actual) For the Month of March 2017 Manufacturing Overhead Budget (Static) For the Month of March 2017 Production in units Costs Budgeted production in units 17,500 118,500 Budgeted costs 5,875 14,100 11,750 8,225 42,000 16,800 3,000 1,200 1,500 104,450 Indirect materials Indirect labor Utilities Maintenance Salaries Depreciation Property taxes Insurance Janitorial Indirect materials Indirect labor Utilities Maintenance Salaries Depreciation Property taxes Insurance Janitorial 5,910 14,195 11,880 8,275 42,000 16,800 3,000 1,200 1,500 $104,760 Total costs Total budgeted costs Waterways produced 118,500 units in March rather than the budgeted number of units Instructions (a) Prepare a flexible overhead budget based on the following amounts produced 5,500 units (2) 116,500 units (3) 117,500 units (4) 118,500 units (5) 119,500 units (b) Prepare a flexible budget report showing the differences (favorable and unfavorable) in manufacturing overhead costs for the month of March (c) Prepare a responsibility report for the manufacturing overhead for March, assuming only variable costs are controllableStep by Step Solution
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