Cheyenne Company manufactures tablecloths. Sales have grown rapidly over the past 2 years. As a result, the president has installed a budgetary control system for 2022. The following data were used in developing the master manufacturing overhead budget for the Ironing Department, which is based on an activity index of direct labor hours. Variable costs Indirect labor Indirect materials Factory utilities Factory repairs Rate per Direct Labor Hour $0.41 0.51 Fixed: same as budgeted. 0.31 Annual Fixed Costs Supervision $43,440 Depreciation Insurance 0.24 Rent 19,800 15,720 30,840 The master overhead budget was prepared in the expectation that 479,400 direct labor hours will be worked during the year. In June, 45,300 direct labor hours were worked. At that level of activity, actual costs were as shown below. Variable-per direct labor hour: indirect labor $0.45, indirect materials $0.49, factory utilities $0.33, and factory repairs $0.29.

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Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.