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Tema [17]
3 years ago
6

Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead cos

ts per direct labor hour are as follows. Indirect labor $1.00 Indirect materials 0.70 Utilities 0.40 Fixed overhead costs per month are Supervision $4,200, Depreciation $1,800, and Property Taxes $600. The company believes it will normally operate in a range of 7,000–13,000 direct labor hours per month. Assume that in July 2017, Myers Company incurs the following manufacturing overhead costs. Variable Costs Fixed Costs Indirect labor $10,760 Supervision $4,200 Indirect materials 7,520 Depreciation 1,800 Utilities 3,950 Property taxes 600 (a) Prepare a flexible budget performance report, assuming that the company worked 11,000 direct labor hours during the month.
Business
1 answer:
Tju [1.3M]3 years ago
8 0

Answer:

\left[\begin{array}{cccc}-&Actual&Variance&Flexible Budget\\Indirect labor&10,760&240F&11,000\\Indirect Materials&7,520&180F&7,700\\Utilities&3,950&450F&4,400\\Supervision&4,200&0&4,200\\dep&1,800&0&1,800\\Prop.taxes&600&0&600\\\end{array}\right]

Explanation:

Idirect labor 1

Indirect materials 0.7

Utilities 0.4

fixed per month

supervision 4,200

Dep 1,800

property taxes 600

Units produced

We multiply the variable components rate by the units produced. Then we calcualte the variances

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