Flexible Overhead Budget Wiki Wiki Company has determined that the variable overhead rate is $2.9 per...
Flexible Overhead Budget
Wiki Wiki Company has determined that the variable overhead rate is $2.9 per direct labor hour in the Fabrication Department. The normal production capacity for the Fabrication Department is 16,000 hours for the month. Fixed costs are budgeted at $68,800 for the month.
a. Prepare a monthly factory overhead flexible budget for 14,800, 16,000, and 17,200 hours of production. Enter all amounts as positive numbers.
| Wiki Wiki Company | |||
| Monthly Factory Overhead Cost Budget-Fabrication Department | |||
| Direct labor hours | 14,800 | 16,000 | 17,200 |
| Variable factory overhead cost | $ | $ | $ |
| Fixed factory overhead cost | |||
| Total factory overhead cost | $ | $ | $ |
b. How much overhead would be applied to
production if 17,200 hours were used in the department during the
month? If required, round your calculations to two decimal places
and your final answer to the nearest dollar.
$
Homework Answers
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AS FOR GIVEN DATA...
Predetermined overhead rate for the Fabrication Department = $ 76,800 / 16,000 hours + $ 3.40 = $ 8.20.
a.
| Wiki Wiki Company Monthly Factory Overhead Cost Budget: Fabrication Department |
|||
| Direct Labor Hours | 14,900 | 16,000 | 17,100 |
| Variable Factory Overhead Cost | $ 50,660 | $ 54,400 | $ 58,140 |
| Fixed Factory Overhead Cost | 76,800 | 76,800 | 76,800 |
| Total Factory Overhead Cost | $ 127,460 | $ 131,200 | $ 134,940 |
b. Answer : $ 140,220.
Factory overhead applied during the month = $ 8.20 x 17,100 hours = $ 140,220
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