Requirement Prepare the Factory Overhead Budget for Conlan Inc.. The product’s m

Question

Requirement Prepare the Factory Overhead Budget for Conlan Inc..  The product’s manufacturing cost is $215 per unit, including per unit costs of $90 for materials  (6 lbs. at $15 per lb.), $88 for direct labor (4hours × $22 direct labor rate per hour), $25 for variable overhead, and $12 for fixed overhead. Annual fixed overhead consists, incurred evenly throughout the year, consist of depreciation on production equipment, $20,700; factory utilities, $25,800, and other factory overhead of $5,136.

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Explanation / Answer

Conlan Inc. Factory Overhead Budget For the year ended December 31, 2018 First Qtr. Second Qtr. Third Qtr. Fourth Qtr. Total Budgeted production (units) 897 962 1,040 1,404 4,303 Variable factory overhead rate $25.00 $25.00 $25.00 $25.00 $25.00 Budgeted variable overhead $22,425 $24,050 $26,000 $35,100 $107,575 Budgeted fixed overhead 12909 12909 12909 12909 51636 Budgeted total overhead 35334 36959 38909 48009 159211

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