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 MarchBudgeted production in units

114,000Budgeted costsIndirect materials$5,700Indirect labor12,540Utilities11,400Maintenance7,980Salaries39,900Depreciation17,400Property taxes2,700Insurance1,100Janitorial1,500Total budgeted costs$100,220

WATERWAYS CORPORATION

Manufacturing Overhead Costs (Actual)

For the Month of March

Production in units

115,000Costs

Indirect materials$5,735Indirect labor12,623Utilities11,528Maintenance8,030Salaries39,900Depreciation17,400Property taxes2,700Insurance1,100Janitorial1,500Total costs$100,516

Waterways produced115,000units in March rather than the budgeted number of units.

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 12,540 Utilities 11,400 Maintenance 7,980 Salaries 39,900 Depreciation 17,400 Property taxes 2,700 Insurance 1,100 Janitorial 1,500 Total budgeted costs $100,220 WATERWAYS CORPORATION Manufacturing Overhead Costs (Actual) For the Month of March Production in units 115,000 Costs Indirect materials $5,735 Indirect labor 12,623 Utilities 11,528 Maintenance 8,030 Salaries 39,900 Depreciation 17,400 Property taxes 2,700 Insurance 1,100 Janitorial 1,500 Total costs $1005 16 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 WATERWAYS CORPORATION Manufacturing Overhead Flexible Budget For the Month of March 4 $ $ $ $ 69 $ toPrepare 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 Favorable Unfavorable Neither Favorable Budget Actual nor Unfavorable $ $ 47 4 4 4 to $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 Favorable Unfavorable Neither Favorable Controllable Cost Budget Actual nor Unfavorable 3 $ $ $ 3