Business, 16.07.2021 03:20 theylovelillexx2258

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 $1.00
Indirect materials 0.70
Utilities 0.20

Fixed overhead costs per month are Supervision $4,000, Depreciation $1,000, and Property Taxes $500. The company believes it will normally operate in a range of 7,000–10,600 direct labor hours per month. Prepare a monthly manufacturing overhead flexible budget for 2017 for the expected range of activity, using increments of 1,200 direct labor hours.

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Answer from: ReonRamseyz

Myers Company

A Monthly Manufacturing Overhead Flexible Budget for 2017:

Operating Ranges Per Hour 7,000 8,200 9,400 10,600

Variable costs:

Indirect labor $1.00 $7,000 $8,200 $9,400 $10,600

Indirect materials 0.70 4,900 5,740 6,580 7,420

Utilities 0.20 1,400 1,640 1,880 2,120

Total variable costs $13,300 $15,580 $17,860 $20,140

Fixed overhead costs per month:

Supervision $4,000 4,000 4,000 4,000 4,000

Depreciation $1,000 1,000 1,000 1,000 1,000

Property Taxes $500 500 500 500 500

Total fixed costs $5,500 $5,500 $5,500 $5,500

Total costs $18,800 $21,080 $23.360 $25,640

Explanation:

a) Data and Calculations:

Variable manufacturing overhead costs per direct labor hour:

Indirect labor $1.00

Indirect materials 0.70

Utilities 0.20

Total variable per unit = $1.90

Fixed overhead costs per month:

Supervision $4,000

Depreciation $1,000

Property Taxes $500

Operation range of direct labor hours = 7,000 - 10,600

Increments of direct labor hours = 1,200

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