Solution 1:
Chubbs Inc. | ||||
Manufacturing overhead flexible budget report | ||||
For the quarter ended March 31, 2020 | ||||
Particulars | Budget | Actual Cost | Variance | Favorable / Unfavorable / Neither favorable nor unfavorable |
Variable costs: | ||||
Indirect materials | $11,400.00 | $14,700.00 | $3,300.00 | Unfavorable |
Indirect labor | $11,000.00 | $9,300.00 | $1,700.00 | Favorable |
Utilities | $7,700.00 | $9,100.00 | $1,400.00 | Unfavorable |
Maintenance | $5,900.00 | $4,500.00 | $1,400.00 | Favorable |
Total | $36,000.00 | $37,600.00 | $1,600.00 | Unfavorable |
Fixed Costs: | ||||
Supervisor salaries | $36,800.00 | $36,800.00 | $0.00 | Neither Favorable nor Unfavorable |
Depreciation | $6,100.00 | $6,100.00 | $0.00 | Neither Favorable nor Unfavorable |
Property taxes and insurance | $7,000.00 | $9,000.00 | $2,000.00 | Unfavorable |
Maintenance | $5,200.00 | $5,200.00 | $0.00 | Neither Favorable nor Unfavorable |
Total Fixed Costs | $55,100.00 | $57,100.00 | $2,000.00 | Unfavorable |
Total Costs | $91,100.00 | $94,700.00 | $3,600.00 | Unfavorable |
Solution 2:
Manufacturing overhead responsibility report | ||||
For the quarter ended March 31, 2020 | ||||
Particulars | Budget | Actual Cost | Variance | Favorable / Unfavorable / Neither favorable nor unfavorable |
Controllable costs | ||||
Indirect materials | $11,400.00 | $14,700.00 | $3,300.00 | Unfavorable |
Indirect labor | $11,000.00 | $9,300.00 | $1,700.00 | Favorable |
Utilities | $7,700.00 | $9,100.00 | $1,400.00 | Unfavorable |
Maintenance | $11,100.00 | $9,700.00 | $1,400.00 | Favorable |
Supervisor salaries | $36,800.00 | $36,800.00 | $0.00 | Neither Favorable nor Unfavorable |
Total | $78,000.00 | $79,600.00 | $1,600.00 | Unfavorable |
Exercise 10-10 (Video) Chubos Inc.'s manufacturing overhead budget for the first quarter of 2020 contained the...
Exercise 10-10 (Video) Chubbs Inc.'s manufacturing overhead budget for the first quarter of 2020 contained the following data. $37,000 Variable Costs Fixed Costs Indirect $11,300 materials Supervisory salaries Indirect labor 10,000 Depreciation Utilities 720 Property taxes and insurance Maintenance 5,500 Maintenance 6,100 7,300 4,200 Actual variable costs were indirect materials $14,600, indirect labor $9,400, utilities $9,200, and maintenance $4,800. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $8,200. The actual activity level equaled the...
Chubbs Inc.’s manufacturing overhead budget for the first quarter of 2020 contained the following data. Variable Costs Fixed Costs Indirect materials $11,500 Supervisory salaries $36,900 Indirect labor 11,000 Depreciation 7,100 Utilities 7,500 Property taxes and insurance 8,000 Maintenance 5,900 Maintenance 5,000 Actual variable costs were indirect materials $14,500, indirect labor $9,200, utilities $9,100, and maintenance $5,300. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $8,800. The actual activity level equaled the budgeted level. All...
Chubbs Inc.'s manufacturing overhead budget for the first quarter of 2020 contained the following data. Variable Costs Fixed Costs Indirect materials $11.800 Supervisory salaries $36,100 Indirect labor 10,800 Depreciation 6.200 Utilities 7,800 Property taxes and insurance 7,500 Maintenance 5.900 Maintenance 5,000 Actual variable costs were indirect materials $14,700, indirect labor $9.300, utilities $9.900, and maintenance $4,600. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $8,500. The actual activity level equaled the budgeted level. All...
Chubbs Inc's manufacturing overhead budget for the first quarter of 2020 contained the following data. Variable Costs Fixed Costs Indirect materials $11300 Supervisory salaries $37,000 Indirect labor 10,800 Depreciation 6,000 Property taxes and insurance Utilities 7,200 7,400 Maintenance 5,900 Maintenance 5,000 Actual variable costs were indirect materials $14,600, indirect labor $9.400, utilities $9.600, and maintenance $5,100. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $8,700. The actual activity level equaled the budgeted level. All...
Exercise 22-10 Chubbs Inc.'s manufacturing overhead budget for the first quarter of 2017 contained the following data. Variable Costs Fixed Costs Indirect materials $11,800 Supervisory salaries Indirect labor 10,700 Depreciation Utilities 8,000 Property taxes and insurance Maintenance 5,600 Maintenance $35,500 6,700 7,600 5,900 Actual variable costs were indirect materials $14,700, indirect labor $9,600, utilities $9,800, and maintenance $5,100. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $8,600. The actual activity level equaled the budgeted...
Sunland Inc.'s manufacturing overhead budget for the first quarter of 2020 contained the following data. Variable Costs Fixed Costs Indirect materials $11,100 Supervisory salaries Indirect labor 10,700 Depreciation Utilities 7,800 Property taxes and insurance Maintenance 5,700 Maintenance $35,400 7,500 7,300 4,000 Actual variable costs were indirect materials $15, 100, indirect labor $9,500, utilities $9.600, and maintenance $5,200. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $8,300. The actual activity level equaled the budgeted level....
Exercise 10-10 (Video) Chubbs Inc.’s manufacturing overhead budget for the first quarter of 2020 contained the following data. Variable Costs Fixed Costs Indirect materials $11,300 Supervisory salaries $37,000 Indirect labor 10,000 Depreciation 6,100 Utilities 7,200 Property taxes and insurance 7,300 Maintenance 5,500 Maintenance 4,200 Actual variable costs were indirect materials $14,600, indirect labor $9,400, utilities $9,200, and maintenance $4,800. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $8,200. The actual activity level equaled the...
Sheridan Inc.'s manufacturing overhead budget for the first quarter of 2020 contained the following data Variable Costs Fixed Costs Indirect $11,500 Supervisory salaries $36,700 materials 10,900 Depreciation Indirect labor 6,600 Property taxes and Utilities 7,300 7,900 insurance Maintenance 5,700 Maintenance 4,200 Actual variable costs were indirect materials $15,000, indirect labor $9,200, utilities $9,900, and maintenance $4,600 Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $9,200. The actual activity level equaled the budgeted level All...
Exercise 22-10 Your answer is partially correct. Try again. Chubbs Inc.'s manufacturing overhead budget for the first quarter of 2017 contained the following data. Variable Costs Fixed Costs Indirect materials $11,800 Supervisory salaries $36,100 Indirect labor 10,800 Depreciation 6,200 Utilities 7,800 Property taxes and insurance 7,500 Maintenance 5,900 Maintenance 5,000 Actual variable costs were indirect materials $14,700, indirect labor $9,300, utilities $9.900, and maintenance $4,600. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $8,500....
- Your answer is partially correct. Chubbs Inc's manufacturing overhead budget for the first quarter of 2020 contained the following data. Variable Costs Fixed Costs Indirect materials $11,300 Supervisory salaries $37,000 Indirect labor 10,000 Depreciation 6,100 Utilities 7.200 Property taxes and insurance 7,300 Maintenance 5,500 Maintenance 4,200 Actual variable costs were indirect materials $14,600, indirect labor $9,400, utilities $9.200, and maintenance $4,800. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $8,200. The actual activity...