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Crane Co. developed its annual manufacturing overhead budget for its master budget for 2022 as follows: Expected annual operating capacity Variable overhead costs Indirect labor Indirect materials Factory supplies Total variable 122,400Direct Labor Hours $612,000 122,400 61,200 795,600

Crane Co. developed its annual manufacturing overhead budget for its master budget for 2022 as follows: Expected annual operating capacity Variable overhead costs Indirect labor Indirect materials Factory supplies Total variable 122,400Direct Labor Hours $612,000 122,400 61,200 795,600

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Activity level Direct labor hours Variable Costs Indirect Labor Indirect Materials Factory Supplies Total Variable Costs ✓ Fixed Costs Depreciation Supervision CRANECO. Monthly Flexible Manufacturing Overhead Budget Property Taxes Total Fixed Costs Total Costs $ LA $ LA 10,400 52000 10400 5200 67600 22000 12000 10000 44000 111600 tA tA 11,400 57000 11400 5700 74100 22000 12000 10000 44000 118100
Transcribed Image Text:Activity level Direct labor hours Variable Costs Indirect Labor Indirect Materials Factory Supplies Total Variable Costs ✓ Fixed Costs Depreciation Supervision CRANECO. Monthly Flexible Manufacturing Overhead Budget Property Taxes Total Fixed Costs Total Costs $ LA $ LA 10,400 52000 10400 5200 67600 22000 12000 10000 44000 111600 tA tA 11,400 57000 11400 5700 74100 22000 12000 10000 44000 118100
Crane Co. developed its annual manufacturing overhead budget for its master budget for 2022 as follows: Expected annual operating capacity Variable overhead costs Indirect labor Indirect materials Factory supplies Fixed overhead costs Depreciation Supervision Property taxes Total costs Total variable Total fixed 122,400Direct Labor Hours $612,000 122,400 61,200 795,600 264,000 144,000 120,000 528,000 $1,323,600 The relevant range for monthly activity is expected to be between 10,400 and 12,000 direct labor hours. Prepare a flexible budget for a monthly activity level of 10,400 and 11,400 direct labor hours. (List variable costs before fixed costs.)
Transcribed Image Text:Crane Co. developed its annual manufacturing overhead budget for its master budget for 2022 as follows: Expected annual operating capacity Variable overhead costs Indirect labor Indirect materials Factory supplies Fixed overhead costs Depreciation Supervision Property taxes Total costs Total variable Total fixed 122,400Direct Labor Hours $612,000 122,400 61,200 795,600 264,000 144,000 120,000 528,000 $1,323,600 The relevant range for monthly activity is expected to be between 10,400 and 12,000 direct labor hours. Prepare a flexible budget for a monthly activity level of 10,400 and 11,400 direct labor hours. (List variable costs before fixed costs.)
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