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 114,000 Budgeted costs Indirect materials $5,700 Indirect labor 14,820 Utilities 11,400 Maintenance 7,980 Salaries 40,100 Depreciation 18,200 Property taxes 3,200 Insurance 1,300 Janitorial 1,500 Total budgeted costs $104,200 WATERWAYS CORPORATION Manufacturing Overhead Costs (Actual) For the Month of March Production in units 115,000 Costs Indirect materials $5,734 Indirect labor 14,925 Utilities 11,531 Maintenance 8,029 Salaries 40,100 Depreciation 18,200 Property taxes 3,200 Insurance 1,300 Janitorial 1,500 Total costs $104,519 Waterways produced 115,000 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) 112,000 units (2) 113,000 units (3) 114,000 units (4) 115,000 units (5) 116,000 units Production in Units 112,000 Variable Costs WATERWAYS CORPORATION Manufacturing Overhead Flexible Budget For the Month of March 113,000 114,000 Production in Units v 112,000 Variable Costs WATERWAYS CORPORATION Manufacturing Overhead Flexible Budget For the Month of March 113,000 114,000 Indirect Materials 5600 5650 5700 Indirect Labor Utilities Maintenance Total Variable Costs Fixed Costs Salaries Depreciation Property Taxes 000-000 ] 114,000 115,000 WATERWAYS CORPORATION Manufacturing Overhead Flexible Budget For the Month of March 113,000 116,000 5650 5700 5750 $ 5800 ] 100 000 Property Taxes Insurance Janitorial Total Fixed Costs Total Costs Production in Units Variable Costs Indirect Materials Indirect Labor Utilities Maintenance Total Variable Costs Fixed Costs Salaries WATERWAYS CORPORATION Manufacturing Overhead Flexible Budget Report For the Month of March Budget Actual 00000 i Favi Unfa Neither nor Un WATERWAYS CORPORATION Manufacturing Overhead Flexible Budget Report For the Month of March Budget Actual 00000 Favorable Unfavorable Neither Favorable nor Unfavorable 4 Salaries Depreciation Property Taxes Insurance Janitorial Total Fixed Costs Total Costs 5 S i i i i WATERWAYS CORPORATION Responsibility Report Manufacturing Overhead For the Month of March Controllable Cost Budget Actual Indirect Materials Indirect Labor Utilities Maintenance Favoral Unfavori Neither Fav nor Unfav Budget WATERWAYS CORPORATION Responsibility Report Manufacturing Overhead For the Month of March Actual Favorable Unfavorable Neither Favorable nor Unfavorable