Ivanhoe Company uses a flexible budget for manufacturing overhead that is based on direct labour hours. The variable manufacturing overhead costs per direct labour hour are as follows: Indirect labour $1.40 Indirect materials 0.70 Utilities 0.20 Fixed overhead costs per month are as follows: supervision $3,700; depreciation $1,100; and property taxes $600. The company believes it will normally operate in a range of 7,400 to 10,400 direct labour hours per month. Prepare a monthly flexible manufacturing overhead budget for 2022 for the expected range of activity, using increments of 1,000 direct labour hours. (List variable costs before fixed costs.)

Ivanhoe Company uses a flexible budget for manufacturing overhead that is based on direct labour hours. The variable manufacturing overhead costs per direct labour hour are as follows: Indirect labour $1.40 Indirect materials 0.70 Utilities 0.20 Fixed overhead costs per month are as follows: supervision $3,700; depreciation $1,100; and property taxes $600. The company believes it will normally operate in a range of 7,400 to 10,400 direct labour hours per month. Prepare a monthly flexible manufacturing overhead budget for 2022 for the expected range of activity, using increments of 1,000 direct labour hours. (List variable costs before fixed costs.)

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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