Taylor Manufacturing Company | ||||
Polishing Department | ||||
Performance Report- Manufacturing Overhead | ||||
For the Month Ended April 30, 2016 | ||||
Actual Costs | Budget (4900 hours) | Variances | ||
Variable costs: | ||||
Factory supplies | $98720 | ($100000/5000*4900)= 98000 | (98720-98000)= 720 | U |
Indirect labor | 136360 | (152000/5000*4900)= 148960 | (136360-148960)= 12600 | F |
Utilities | 82800 | (68000/5000*4900)= 66640 | (82800-66640)= 16160 | U |
Patent royalties | 290616 | (296000/5000*4900)= 290080 | (290616-290080)= 536 | U |
Total variable overhead | 608496 | 603680 | 4816 | U |
Fixed costs: | ||||
Supervisory salaries | 172000 | 160000 | (172000-160000)= 10000 | U |
Depreciation on equipment | 144000 | 144000 | 0 | |
Factory taxes | 60000 | 48000 | (60000-48000)= 12000 | U |
Factory insurance | 32000 | 32000 | 0 | |
Utilities | 96000 | 80000 | (96000-80000)=16000 | U |
Total fixed overhead | 504000 | 464000 | 40000 | U |
Total overhead costs | $1112496 | $1067680 | 44816 | U |
Flexible Budget Application The polishing department of Taylor Manufacturing Company operated during April 2016 with the...
Flexible Budget Application The polishing department of Taylor Manufacturing Company operated during April 2016 with the following manufacturing overhead cost budget based on 5,000 hours of monthly productive capacity: Taylor Manufacturing Company Polishing Department Overhead Budget (5,000 Hours) For the Month of April 2016 Variable costs: Factory supplies $100,000 Indirect labor 152,000 Utilities 68,000 Patent royalties on secret process 296,000 Total variable overhead Fixed costs: Supervisory salaries 160,000 Depreciation on factory equipment 144,000 Factory taxes 48,000 Factory insurance 32,000 Utilities...
Flexible Budget Application The polishing department of Taylor Manufacturing Company operated during April 2016 with the following manufacturing overhead cost budget based on 5,000 hours of monthly productive capacity: Taylor Manufacturing Company Polishing Department Overhead Budget (5,000 Hours) For the Month of April 2016 Variable costs: Factory supplies $100,000 Indirect labor 152,000 Utilities 68,000 Patent royalties on secret process 296,000 Total variable overhead $616,000 Fixed costs: Supervisory salaries 160,000 Depreciation on factory equipment 144,000 Factory taxes 48,000 Factory insurance 32,000...
Flexible Budget Application The polishing department of Taylor Manufacturing Company operated during April 2019 with the following manufacturing overhead cost budget based on 4,000 hours of monthly productive capacity: Taylor Manufacturing Company Polishing Department Overhead Budget (4,000 Hours) For the Month of April 2019 Variable costs: Factory supplies $100,000 Indirect labor 152,000 Utilities 68,000 Patent royalties on secret process 296,000 Total variable overhead Fixed costs: Supervisory salaries 160,000 Depreciation on factory equipment 144,000 Factory taxes 48,000 Factory insurance 32,000 Utilities...
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The polishing department of Taylor Manufacturing Company operated during April 2016 with the following manufacturing overhead cost budget based on 5,000 hours of monthly productive capacity: Taylor Manufacturing Company Polishing Department Overhead Budget (5,000 Hours) For the Month of April 2016 Variable costs Factory supplies Indirect labor Utilities Patent royalties on secret process 100,000 152,000 68,000 296,000 Total variable overhead 616,000 Fixed costs: Supervisory salaries Depreciation on factory equipment Factory taxes Factory insurance Utilities (base...
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M N O 1 Flexible Budget Application The cutting department of Liberty Manufacturing Company operated during September 2019 with the following manufacturing overhead cost budget based on 5,000 hours of monthly productive capacity: Based on 5000 hours 9 #NAME? Cutting Department Overhead Budget for the Month of September 2019 Variable costs: Factory supplies 48,000 Indirect labor 72,000 Utilities (usage charge) 36,000 Patent royalties on secret process 144,000 Totalvariable overhead $ 300,000 Supervisory salaries Depreciation on...
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 18,000 hours of productive capacity in the department: Variable overhead cost: Indirect factory labor Power and light $144,000 6,480 45,000 $195,480 Indirect materials Total variable overhead cost Fixed overhead cost: Supervisory salaries Depreciation of plant and equipment Insurance and property taxes $68,420 43,010 27,370 Total fixed overhead cost 138,800 Total factory...
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 20,000 hours of productive capacity in the department: Variable overhead costs: Indirect factory labor $180,000 Power and light Indirect materials 12,000 64,000 Total variable overhead cost $256,000 Fixed overhead costs: Supervisory salaries $ 80,000 50,000 Depreciation of plant and equipment Insurance and property taxes 32,000 Total fixed overhead cost 162,000 Total...
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 18,000 hours of productive capacity in the department: Variable overhead costs: Indirect factory labor $142,200 Power and light 7,020 Indirect materials 46,800 Total variable overhead cost $196,020 Fixed overhead costs: Supervisory salaries $68,610 Depreciation of plant and equipment 43,120 Insurance and property taxes 27,440 Total fixed overhead cost 139,170 Total factory...
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 15,000 hours of productive capacity in the department: Variable overhead cost: Indirect factory labor $121,500 Power and light 6,450 Indirect materials 43,500 Total variable overhead cost $171,450 Fixed overhead cost: Supervisory salaries $60,010 Depreciation of plant and equipment 37,720 Insurance and property taxes 24,000 Total fixed overhead cost 121,730 Total factory...
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 18,000 hours of productive capacity in the department: Variable overhead cost: Indirect factory labor $165,600 Power and light 7,020 Indirect materials 48,600 Total variable overhead cost $221,220 Fixed overhead cost: Supervisory salaries $77,430 Depreciation of plant and equipment 48,670 Insurance and property taxes 30,970 Total fixed overhead cost 157,070 $378,290 Total...