Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing...
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Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor Indirect materials Utilities $1.00 0.60 0.40 Fixed overhead costs per month are Supervision $3,700, Depreciation $1,800, and Property Taxes $600. The company believes it will normally operate in a range of 7,600-10,900 direct labor hours per month. Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs. Variable Costs Indirect labor $9.570 Indirect materials 5,720 Utilities 3,520 Fixed Costs Supervision Depreciation Property taxes $3,700 1,800 600 (a) Prepare a flexible budget performance report, assuming that the company worked 9,800 direct labor hours during the month. (List variable costs before fixed costs) (b) Prepare a flexible budget performance report, assuming that the company worked 9,100 direct labor hours during the month. (List variable costs before fixed costs) Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor Indirect materials Utilities $1.00 0.60 0.40 Fixed overhead costs per month are Supervision $3,700, Depreciation $1,800, and Property Taxes $600. The company believes it will normally operate in a range of 7,600-10,900 direct labor hours per month. Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs. Variable Costs Indirect labor $9.570 Indirect materials 5,720 Utilities 3,520 Fixed Costs Supervision Depreciation Property taxes $3,700 1,800 600 (a) Prepare a flexible budget performance report, assuming that the company worked 9,800 direct labor hours during the month. (List variable costs before fixed costs) (b) Prepare a flexible budget performance report, assuming that the company worked 9,100 direct labor hours during the month. (List variable costs before fixed costs)
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a Myers Company worked 9800 direct labor hours during the month Calculation of the budgeted variable manufacturing overhead cost per direct labor hour Variable manufacturing overhead cost per direct l... View the full answer
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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