Johnson Company estimates that 378,500 direct labor hours will be worked during the coming year, 2020,...
Johnson Company estimates that 378,500 direct labor hours will be worked during the coming year, 2020, in the the Packaging Department. On this basis, the following budgeted manufacturing overhead cost data are computed for the year.
Fixed Overhead Costs
_______________________________
Supervision $87,840
Depreciation $68,760
Insurance $30,000
Rent $24,360
Property Taxes $18,480
Total: $229,440
Variable Overhead Costs
__________________________________
Indirect labor $166,540
Indirect materials $83,270
Repairs $37,850
Utilities $75,700
Lubricants $30,280
Total: $393,640
It is estimated that direct labor hours worked each month will range from 25,800 to 36,600 hours.
During October, 25,800 direct labor hours were worked and the following overhead costs were incurred.
Fixed overhead costs: Supervision $7,320, Depreciation $5,730, Insurance $2,460, Rent $2,030, and Property Taxes $1,540.
Variable overhead costs: Indirect labor $12,352, Indirect materials, $5,336, Repairs $2,510, Utilities $5,460, and Lubricants $2,304
(a) Prepare a monthly manufacturing overhead flexible budget for each increment of 3,600 direct labor hours over the relevant range for the year ending December 31,2020.
(b) Prepare a flexible budget report for October.
Homework Answers
Calculation:
Planning
Budget:
Direct labor hours = 378,500
Indirect labor = $166,540
Indirect labor per direct labor hour = $166,540 / 378,500
Indirect labor per direct labor hour = $0.44
Indirect materials = $83,270
Indirect materials per direct labor hour = $83,270 / 378,500
Indirect materials per direct labor hour =
$0.22
Repairs = $37,850
Repairs per direct labor hour = $37,850 / 378,500
Repairs per direct labor hour = $0.10
Utilities = $75,700
Utilities per direct labor hour = $75,700 / 378,500
Utilities per direct labor hour = $0.20
Lubricants = $30,280
Lubricants per direct labor hour = $30,280 / 378,500
Lubricants per direct labor hour = $0.08
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Bumblebee Company estimates that 370,000 direct labor hours will
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Insurance
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Repairs
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Bumblebee Company estimates that 334,400 direct labor hours will be worked during the coming year, 2020, in the Packaging Department on this basis, the following budgeted manufacturing overhead cost data are computed for the year. Fixed Overhead Costs Variable Overhead Costs Supervision S92,760 Indirect labor $140,448 Depreciation 66,280 Insurancs 71.760 Indirect materials 31,080 Repairs 18,940 Utilities 46016 Rent 66,990 Property taxes 17,400 Lubricants 20.064 $231.940 $341.088 It is estimated that direct labor hours worced each month will range from 29,300...
Bumblebee Company estimates that 366,700 direct labor hours will be worked during the coming year, 2017, in the Packaging Department. On this basis, the budgeted manufacturing overhead cost data are computed for the year. Fixed Overhead Costs Supervision Depreciation Insurance Rent Property taxes $90,000 75,240 31,320 27,000 13,200 $236,760 Variable Overhead Costs Indirect labor $168,682 Indirect materials 102,676 Repairs 73,340 Utilities 55,005 Lubricants 18,335 $418,038 It is estimated that direct labor hours worked each month will range from 29,200 to...
Problem 22-1A
Bumblebee Company estimates that 402,100 direct labor hours will be
worked during the coming year, 2017, in the Packaging Department.
On this basis, the budgeted manufacturing overhead cost data are
computed for the year.
Fixed Overhead Costs
Variable Overhead Costs
Supervision
$91,800
Indirect labor
$184,966
Depreciation
69,960
Indirect materials
104,546
Insurance
32,040
Repairs
64,336
Rent
22,560
Utilities
60,315
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22,680
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40,210
$239,040
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Problem 22-1A
Bumblebee Company estimates that 370,000 direct labor hours will
be worked during the coming year, 2017, in the Packaging
Department. On this basis, the budgeted manufacturing overhead cost
data are computed for the year.
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Problem 22-1A
Bumblebee Company estimates that 300,000 direct labor hours will
be worked during the coming year, 2017, in the Packaging
Department. On this basis, the budgeted manufacturing overhead cost
data are computed for the year.
Fixed Overhead Costs
Variable Overhead Costs
Supervision
$84,000
Indirect labor
$120,000
Depreciation
66,000
Indirect materials
60,000
Insurance
24,000
Repairs
30,000
Rent
18,000
Utilities
45,000
Property taxes
12,000
Lubricants
15,000
$204,000
$270,000
It is estimated that direct labor hours worked each month will
range from...
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