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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 Indirect materials Utilities $1.20 0.90 0.40 Fixed overhead costs per month are Supervision $3,600, Depreciation $1,300, and Property Taxes $700. The company believes it will normally operate in a range of 6,000-10,500 direct labor hours per month. Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs.

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 Indirect materials Utilities $1.20 0.90 0.40 Fixed overhead costs per month are Supervision $3,600, Depreciation $1,300, and Property Taxes $700. The company believes it will normally operate in a range of 6,000-10,500 direct labor hours per month. Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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 Indirect materials Utilities Indirect labor $1.20 Fixed overhead costs per month are Supervision $3,600, Depreciation $1,300, and Property Taxes $700. The company believes it will normally operate in a range of 6,000-10,500 direct labor hours per month. Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs. Variable Costs Indirect materials 0.90 Utilities 0.40 $10,530 7,970 3,180 Fixed Costs Supervision Depreciation Property taxes $3,600 1,300 700 (a) Prepare a flexible budget performance report, assuming that the company worked 9,000 direct labor hours during the month. (List variable costs before fixed costs.)
Transcribed Image Text: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 Indirect materials Utilities Indirect labor $1.20 Fixed overhead costs per month are Supervision $3,600, Depreciation $1,300, and Property Taxes $700. The company believes it will normally operate in a range of 6,000-10,500 direct labor hours per month. Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs. Variable Costs Indirect materials 0.90 Utilities 0.40 $10,530 7,970 3,180 Fixed Costs Supervision Depreciation Property taxes $3,600 1,300 700 (a) Prepare a flexible budget performance report, assuming that the company worked 9,000 direct labor hours during the month. (List variable costs before fixed costs.)
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