Please read and follow instructions. Use your time wisely. Good luck SECTION 1 (

Question

Please read and follow instructions. Use your time wisely. Good luck SECTION 1 (20 points) Aggie Manufacturing Corporation uses a flexible budget for manufacturing overhead based on direct labor hours. For the year 2017 the master overhead budget for the Assembling Department for the year based on 300,000 direct labor hours Indirect labor Maintenance Utilities Supplies $330,000 195,000 96,000 240.000 FIXED COSTS Property Taxes Supervision Depreciation $72,000 36,000 48,000 4,000 $240.000 During the month of September of 2017 a total of 22,000 direct labor hours were worked. The company following variable costs in September: Indirect labor $25,1 80; Maintenance $13,960; Utilities $6,921; and Supplies $18,102. During September of 2017 the fixed costs. actual fixed overhead costs were the same as the monthly budgeted Instructions: On the separately distributed sheet entitled "Page for Section 1 Flexible Budget Report" prepare (in good form) a detailed "Manufacturing Overheed ReBet Reporf for the Assembling Department for the month of September of 2017. Be sure to include the heading Print your name on the sheet. PAGE 1

Explanation / Answer

Manufacturing Overhead Flexible Budget Report

Flexible
Budget Actual
Results Variance Hours 22000 22000 Variable costs: Indirect labor $24200 $25180 $980 U Maintenance 14300 13960 340 F Utilities 7040 6921 119 F Supplies 17600 18102 502 U Total variable costs $63140 $64163 $1023 U Fixed costs: Insurance 6000 6000 - Property taxes 3000 3000 - Supervision 4000 4000 - Depreciation 7000 7000 - Total fixed costs 20000 20000 - Total manufacturing overhead costs $83140 $84163 $1023 U

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