Show Attempt History Current Attempt in Progress - Your answer is partially correct. 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 $1.20 0.80 0.40 Fixed overhead costs per month are Supervision $3,500, Depreciation $1,300, and Property Taxes $700. The company believes it will normally operate in a range of 5,500-8,500 direct labor hours per month. Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs. Variable Costs Indirect labor $8,720 Indirect materials 5,830 Utilities 2,590 Fixed Costs Supervision $3,500 Depreciation 1,300 Property taxes 700 (a) Prepare a flexible budget performance report, assuming that the company worked 7,500 direct labor hours during the month. (List variable costs before fixed costs.) MYERS COMPANY Manufacturing Overhead Flexible Budget Report For the Month Ended July 31, 2020 Budget Actual Costs Variable Costs Indirect Labor V Indirect Materials $ Utilities Total Variable Costs Fixed Costs Supervision Depreciation Property Taxes Total Fixed Costs Total Costs Total Costs (b) Prepare a flexible budget performance report, assuming that the company worked 6,800 direct labor hours during the month. (List variable costs before fixed costs.) MYERS COMPANY Jochend Evil Budat Donant - Your answer is partially correct. 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 $1.20 0.80 0.40 Fixed overhead costs per month are Supervision $3,500, Depreciation $1,300, and Property Taxes $700. The company believes it will normally operate in a range of 5,500-8,500 direct labor hours per month. Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs. Variable Costs Indirect labor $8,720 Indirect materials 5,830 Utilities 2,590 Fixed Costs Supervision $3,500 Depreciation 1,300 Property taxes 700 (a) Prepare a flexible budget performance report, assuming that the company worked 7,500 direct labor hours during the month. (List variable costs before fixed costs.) MYERS COMPANY Manufacturing Overhead Flexible Budget Report For the Month Ended July 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable get Actual Costs V (b) Prepare a flexible budget performance report, assuming that the company worked 6,800 direct labor hours during the month. (List variable costs before fixed costs.) (b) Prepare a flexible budget performance report, assuming that the company worked 6,800 direct labor hours during the month. (List variable costs before fixed costs.) MYERS COMPANY Manufacturing Overhead Flexible Budget Report For the Month Ended July 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual Costs |||||||||||||||||||||||| $ $ Save for Later Attempts: 1 of 7 used Submit