Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Variable Costs Fixed Costs Indirect materials Indirect labor Utilities Maintenance $11,100 10,700 8,000 5,600 Supervisory salaries Depreciation Property taxes and insurance Maintenance $35,500 7,100 8,000
Variable Costs Fixed Costs Indirect materials Indirect labor Utilities Maintenance $11,100 10,700 8,000 5,600 Supervisory salaries Depreciation Property taxes and insurance Maintenance $35,500 7,100 8,000 4,300 Actual variable costs were indirect materials $15,500, indirect labor $9,600, utilities $9,500, and maintenance $5,000. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $8,900. The actual activity level equaled the budgeted level. All costs are considered controllable by the production department manager except for depreciation, and property taxes and insurance. (a) Prepare a manufacturing overhead flexible budget report for the first quarter. (List variable costs before fixed costs.) CHUBBS INC. Manufacturing Overhead Flexible Budget Report For the Quarter Ended March 31, 2017 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual $ $ $ CHUBBS INC. Manufacturing Overhead Flexible Budget Report For the Quarter Ended March 31, 2017 Dit Fa Unf Neithe Budget Actual nor U $ $ Utilities Property Taxes and Insurance Total Costs De eciation Variable Costs Maintenance Total Fixed Costs Supervisory Salaries Total Variable Costs Indirect Materials $ $ Fixed Costs Indirect Labor first quarter. CHUBBS INC. Monufacturing yorhood Pasmonsibility Panort CHUBBS INC. Manufacturing Overhead Flexible Budget Report For the Quarter Ended March 31, 2017 Favorable Unfavorable Budget Actual Neither Favorable nor Unfavorable $ $ $ $ $ $ (b) Prepare a responsibility report for the first quarter. CHUBBS INC. Manufacturing Overhead Roanonsibility Ronart Maintenance Indirect Materials ta $ Utilities Supervisory Salaries first quarter. Property Taxes and Insurance CHUBBS INC. Manufacturing Overhead Responsibility Report For the Quarter Ended March 31, 2017 Indirect Labor Dit Depreciation Fa Unf Neithe Budget Actual nor U $ $ eTextbook and Media Save for Later Attempts: 0 of 5 used Submit Answer $ $ $ (b) Prepare a responsibility report for the first quarter. CHUBBS INC. Manufacturing Overhead Responsibility Report For the Quarter Ended March 31, 2017 Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual $ ta $ $ $ to
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started