Bramble Company uses a flexible budget for manufacturing overhead based on direct labor hours. Budgeted variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor Indirect materials Utilities $1.00 0.70 0.40 Budgeted fixed overhead costs per month are Supervision $5.120, Depreciation $1.536, and property Taxes $1,024. The company believes it will normally operate in a range of 8,960-12.800 direct labor hours per month. Assume that in July 2022, Bramble Company incurs the following manufacturing overhead costs.
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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![Bramble Company uses a flexible budget for manufacturing overhead based on direct labor hours. Budgeted variable manufacturing
overhead costs per direct labor hour are as follows.
Indirect labor
Indirect materials
Utilities
$1.00
0.70
Budgeted fixed overhead costs per month are Supervision $5.120, Depreciation $1,536, and property Taxes $1,024. The company
believes it will normally operate in a range of 8,960-12,800 direct labor hours per month.
Assume that in July 2022, Bramble Company incurs the following manufacturing overhead costs.
Variable Costs
Indirect labor
Indirect materials
Utilities
0.40
$11,264
7.424
Fixed Costs
Supervision
Depreciation
4,096 Property taxes
M
$5,120
1,536
1,024
(a) Prepare a flexible budget performance report, assuming that the company worked 11,520 direct labor hours during the month. (List](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F27c9ffc8-caf5-4a01-9236-94db3faf410c%2F581d9dd9-f985-423c-9c21-5d5ee0321e74%2F7i68rhq6_processed.jpeg&w=3840&q=75)
![BRAMBLE COMPANY
Manufacturing Overhead Flexible Budget Report
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Actual Costs
Budget
Budget
BRAMBLE COMPANY
Manufacturing Overhead Flexible Budget Report
For the Month Ended July 31, 2022
July 31, 2022
For the Year Ended July 31, 2022
Actual Costs
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ariable costs before fixed cc](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F27c9ffc8-caf5-4a01-9236-94db3faf410c%2F581d9dd9-f985-423c-9c21-5d5ee0321e74%2Flnzv30l_processed.jpeg&w=3840&q=75)
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