age lor secIon T Flexible Budget Report\". There are 55 points on Exam W3 Part A

Question

age lor secIon T Flexible Budget Report". There are 55 points on Exam W3 Part A Exam W Part will e held at our next class meeting. There are S5 points on Exam #3 Part B. Points earned on xam #3 Part D will he added to points you eam on Exam #3 Part A. Any grades in excess of 100 will be recorded as loo Grades less than or equal 10 100 will not be adjusted. Please read and follow instructions. Use your time isely, Good luck SECTION 1 (20 points) Aggie Man ter 01 the turing Corporation uses a flexible budget for manufacturing overhead based on direct labor hours For the was as follow mstr overad budget for the Assembling Department for the year baned on 300,000 direct Jabo honus labor $330,000 195,000 Utilities Supplies 861,000 FIXED COSTS Property Taxes Supervision Depreciation $72,000 36,000 48,000 84000 During the month of September of 2017 a total of 22,000 direct labor hours were worked. The company incurred e following variable costs in September: Indirect labor $25,180; Maintenance $13,960; Utilities $6,921; and Supplies $18,102. During September of 2017 the actual fixed overhead costs were the same as the monthily badgeted fixed costs. ailed "Manufacturing Overhead Flexible Budget Report" for the Assembling Department for the mnth of of 2017. Be Instructions: On the separately distributed sheet entitled "Page for Section 1 Flexible Budget Report prepare (in good form) a det September sure to include the heading. Print your name on the sheet PAGE 1

Explanation / Answer

Ans) Aggie Manufacturing Corporation Assembly Department Monthly Manufacturing Overhead Flexible Budget For the month of Sep 2017 Direct Labour Hours 25000 22000 Variable cost Indirect Labor $                                 27,500.00 $         25,180.00 Maintenance $                                 16,250.00 $         13,960.00 Utilities $                                   8,000.00 $           6,921.00 Supplies $                                 20,000.00 $         18,102.00 Total Variable Cost $                                 71,750.00 $         64,163.00 Fixed Cost Insurance $                                   6,000.00 $           6,000.00 Property Tax $                                   3,000.00 $           3,000.00 Supervision $                                   4,000.00 $           4,000.00 Depreciation $                                   7,000.00 $           7,000.00 Total Fixed Cost $                                 20,000.00 $         20,000.00 Total Cost $                                 91,750.00 $         84,163.00 Budgeted Direct Labour Hours 300000/12=25000 Variable cost Indirect Labor (330000/300000)*25000 Maintenance (195000/300000)*25000 Utilities (96000/300000)*25000 Supplies (240000/300000)*25000 Total Variable Cost $                                                -   Fixed Cost Insurance 72000/12 Property Tax 36000/12 Supervision 48000/12 Depreciation 84000/12 Total Fixed Cost $                                                -   Total Cost $                                                -

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