Waterways Corporation is continuing its budget preparations. Waterways had the following static budget and actual overhead costs for March. WATERWAYS CORPORATION Manufacturing Overhead Budget (Static) For the Month of March Budgeted production in units 108,000 Budgeted costs Indirect materials $5,400 Indirect labor 11,880 Utilities 10,800 Maintenance 7,560 Salaries 39,000 Depreciation 16,800 Property taxes 3,000 Insurance 1,300 Janitorial 1,500 Total budgeted costs $97,240 WATERWAYS CORPORATION Manufacturing Overhead Costs (Actual) For the Month of March Production in units 109,000 Costs Indirect materials $5,435 Indirect labor 11,964 Utilities 10,931 Maintenance 7,609 Salaries 39,000 Depreciation 16,800 Property taxes 3,000 Insurance 1,300 Janitorial 1,500 Total costs $97,539 Waterways produced 109,000 units in March rather than the budgeted number of units. Prepare a flexible overhead budget based on the following amounts produced. (Hint: Indirect materials, indirect labor, utilitites, and maintenance are variable costs. The other budgeted costs are fixed costs.) (Round unit costs to 2 decimal places, e.g. 2.25. List variable costs before fixed costs.) (1) 106,000 units (2) 107,000 units (3) 108,000 units (4) 109,000 units (5) 110,000 units Production In Units Variable Costs Indirect Materials Indirect Labor Utilities Maintenance Total Varlable Costs Fixed Costs Salarles Depreciation Property Taxes Insurance Janitorial Total Fixed Costs Total Costs WATERWAYS CORPORATION Manufacturing Overhead Flexible Budg For the Month of March 10 $ $ $ WATERWAYS CORPORATION anufacturing Overhead Flexible Budget For the Month of March $ +A $ $ -Your answer is partially correct. Prepare a flexible budget report showing the differences (favorable and unfavorable) in manufacturing overhead costs for the month of March. (List vairble costs before fixed costs.) Production In Units Variable Costs Indirect Materials $ Indirect Labor Utilities Maintenance Total Varlable Costs Fixed Costs Salarles Depreciation Property Taxes Insurance Janitorial Total Fixed Costs Total Costs WATERWAYS CORPORATION Manufacturing Overhead Flexible Budget Report For the Month of March Budget Actual to $ $ Prepare a flexible budget report showing the differences (favorable and unfavorable) in manufacturing overhead costs for the month of March. (List vairble costs before fixed costs.) WATERWAYS CORPORATION Manufacturing Overhead Flexible Budget Report For the Month of March 1000 $ Actual Favorable Unfavorable Neither Favorable nor Unfavorable Favorable Favorable Unfavorable Favorable Favorable Nelther Favorable nor Unfavorable i Nelther Favorable nor Unfavorable Nelther Favorable nor Unfavorable 1 Nelther Favorable nor Unfavorable i Nelther Favorable nor Unfavorable Nelther Favorable nor Unfavorable Favorable Your answer is partially correct. Prepare a responsibility report for the manufacturing overhead for March, assuming only variable costs are controllable. WATERWAYS CORPORATION Responsibility Report Manufacturing Overhead For the Month of March Controllable Cost Indirect Labor Indirect Materials Utilities Maintenance Budget $ 64 Actual Prepare a responsibility report for the manufacturing overhead for March, assuming only variable costs are controllable. WATERWAYS CORPORATION Responsibility Report Manufacturing Overhead For the Month of March jet -64 $ Actual 10 $ Favorable Unfavorable Neither Favorable nor Unfavorable Favorable Favorable Unfavorable Favorable Favorable