Tiger Equipment Inc., a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Welding Department for May of the current year. The company expected to operate the department at 100% of normal capacity of 8,700 hours.
TIGER EQUIPMENT INC. |
Factory Overhead Cost Budget—Welding Department |
For the Month Ended May 31 |
1 |
Variable costs: |
||
2 |
Indirect factory wages |
$44,370.00 |
|
3 |
Power and light |
21,750.00 |
|
4 |
Indirect materials |
17,400.00 |
|
5 |
Total variable cost |
$83,520.00 |
|
6 |
Fixed costs: |
||
7 |
Supervisory salaries |
$19,200.00 |
|
8 |
Depreciation of plant and equipment |
35,200.00 |
|
9 |
Insurance and property taxes |
19,550.00 |
|
10 |
Total fixed cost |
73,950.00 |
|
11 |
Total factory overhead cost |
$157,470.00 |
During May, the department operated at 9,120 standard hours, and the factory overhead costs incurred were indirect factory wages, $47,092; power and light, $22,500; indirect materials, $18,850; supervisory salaries, $19,200; depreciation of plant and equipment, $35,200; and insurance and property taxes, $19,550.
Prepare a factory overhead cost variance report for May. To be useful for cost control, the budgeted amounts should be based on 9,120 hours. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Enter all variances as positive amounts.
Tiger Equipment Inc., a manufacturer of construction equipment, prepared the following factory overhead cost budget for...
Tiger Equipment Inc., a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Welding Department for May of the current year. The company expected to operate the department at 100% of normal capacity of 8,400 hours. Variable costs: Indirect factory wages $30,240 Power and light 20,160 Indirect materials 16,800 Total variable cost $67,200 Fixed costs: Supervisory salaries $20,000 Depreciation of plant and equipment 36,200 Insurance and property taxes 15,200 Total fixed cost 71,400 Total factory overhead...
Tiger Equipment Inc., a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Welding Department for May of the current year. The company expected to operate the department at 100% of normal capacity of 8,400 hours. Variable costs: Indirect factory wages Power and light Indirect materials Total variable cost $30,240 20,160 16,800 $67,200 Fixed costs: Supervisory salaries $20,000 Depreciation of plant and equipment 36,200 Insurance and property taxes 15,200 Total fixed cost 71,400 Total factory overhead...
Tiger Equipment Inc., a manufacturer of construction equipment,
prepared the following factory overhead cost budget for the Welding
Department for May of the current year. The company expected to
operate the department at 100% of normal capacity of 8,400
hours.
Can someone help me finish the report??
TIGER EQUIPMENT INC.
Factory Overhead Cost Budget-Welding Department
For the Month Ended May 31
1
Variable costs:
2
Indirect factory wages
$43,680.00
3
Power and light
24,360.00
4
Indirect materials
16,800.00
5
Total...
Factory Overhead Cost Variance Report
Tiger Equipment Inc., a manufacturer of construction equipment,
prepared the following factory overhead cost budget for the Welding
Department for May of the current year. The company expected to
operate the department at 100% of normal capacity of 8,400
hours.
Variable costs:
Indirect factory wages
$30,240
Power and light
20,160
Indirect materials
16,800
Total variable cost
$67,200
Fixed costs:
Supervisory salaries
$20,000
Depreciation of plant and equipment
36,200
Insurance and property taxes
15,200
Total fixed...
Factory Overhead Cost Variance Report Tiger Equipment Inc., a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Welding Department for May of the current year. The company expected to operate the department at 100% of normal capacity of 8,400 hours. Variable costs: Indirect factory wages $30,240 Power and light 20,160 Indirect materials 16,800 Total variable cost $67,200 Fixed costs: Supervisory salaries $20,000 Depreciation of plant and equipment 36,200 Insurance and property taxes 15,200 Total fixed...
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 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 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 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...
Factory Overhead Cost Variance Report Feeling Better Medical Inc., a manufacturer of disposable medical supplies, prepared the following factory overhead cost budget for the Assembly Department for October of the current year. The company expected to operate the department at 100% of normal capacity of 7,100 hours. Variable costs: Indirect factory wages $22,720 Power and light 13,987 Indirect materials 11,147 Total variable cost $47,854 Fixed costs: Supervisory salaries Depreciation of plant and equipment $12,900 33,090 Insurance and property taxes 10,100...