Obj. 4 Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 20,000 hours of productive capacity in the department: Variable overhead costs: Indirect factory labor $180,000 Power and light 12,000 Indirect materials 64,000 Total variable overhead cost $256,000 Fixed overhead costs: Supervisory salaries $ 80,000 Depreciation of plant and equipment 50,000 32,000 162,000 $418,000 Insurance and property taxes Total fixed overhead cost Total factory overhead cost Assuming that the estimated costs for November are the same as for October, prepare a flexible factory overhead cost budget for the Press Department for November for 18,000, 20,000, and 22,000 hours of production.

Obj. 4 Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 20,000 hours of productive capacity in the department: Variable overhead costs: Indirect factory labor $180,000 Power and light 12,000 Indirect materials 64,000 Total variable overhead cost $256,000 Fixed overhead costs: Supervisory salaries $ 80,000 Depreciation of plant and equipment 50,000 32,000 162,000 $418,000 Insurance and property taxes Total fixed overhead cost Total factory overhead cost Assuming that the estimated costs for November are the same as for October, prepare a flexible factory overhead cost budget for the Press Department for November for 18,000, 20,000, and 22,000 hours of production.

Name: EX 9-13 Flexible overhead budgetObj. 4Leno Manufacturing Company prep
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: EX 9-13 Flexible overhead budgetObj. 4Leno Manufacturing Company prepared the following factory overhead cost budget for the PressDepartment for October of the current year, during which it expected to require 20,000 hours ofproductive capacity in t

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

A report for a company's Assembly Department for the month of March follows: Assembly Department Cost Report For the Month Ended March 31 Machine-hours Variable costs: Supplies Scrap Indirect materials Fixed costs: Wages and salaries Equipment depreciation Total cost Actual Results 15,000 Master Budget Variances 20,000 $ 10,800 39,200 $ 11,400 42,000 $ 600 F 2,800 F 111,800 133,500 21,700 F 83,500 108,000 78,000 108,000 5,500 U 0 $ 353,300 $ 372,900 $ 19,600 F Required: Prepare a flexible budget performance report for the month of March.
Roget Factory has budgeted factory overhead for the year at $4,392,000. It plans to produce 2,000,000 units of product. Budgeted direct labor hours are 360,000, and budgeted machine hours are 750,000. Using a single plantwide factory overhead rate based on direct labor hours, the factory overhead rate for the year is a.$12.20 b.$15.86 c.$6.10
Pinnacle Corp. budgeted $226,430 of overhead cost for the current year. Actual overhead costs for the year were $213,870. Pinnacle's plantwide allocation base, machine hours, was budgeted at 51,960 hours. Actual machine hours were 53,550. A total of 102,150 units was budgeted to be produced and 98,000 units were actually produced. Pinnacle's plantwide factory overhead rate for the current year is: Oa. $4.12 per machine hour Ob. $4.36 per machine hour Oc. $2.22 per machine hour Od. $2.09 per machine hour
Please show calculation
Yuvwell Corporation's direct labor budget for next year contained the following information: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 8,600 8,500 8,200 8,800 Budgeted direct labor-hours The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $2.75 per direct labor-hour and its total fixed manufacturing overhead is $54,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation of $13,500 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for next year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for next year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the company's manufacturing overhead budget for next year. Note: Round "Variable manufacturing overhead rate" answers to 2 decimal places. Variable manufacturing…
Static budget versus flexible budget The production supervisor of the Machining Department for Hagerstown Company agreed to the following monthly static budget for the upcoming year: Hagerstown Company Machining Department Monthly Production Budget Wages Utilities Depreciation Total $1,090,000 49,000 82,000 $1,221,000 The actual amount spent and the actual units produced in the first three months in the Machining Department were as follows: Amount Spent Units Produced 100,000 91,000 82,000 May June July The Machining Department supervisor has been very pleased with this performance because actual expenditures for May-July have been significantly less than the monthly static budget of 1,221,000. However, the plant manager believes that the budget should not remain fixed for every month but should "flex" or adjust to the volume of work that is produced in the Machining Department. Additional budget information for the Machining Department is as follows: $1,150,000 1,095,000 1,042,000…
8. Sweet Tooth Company budgeted the following costs for anticipated production for August: Advertising expenses $273,290 Manufacturing supplies 14,980 Power and light 44,670 Sales commissions 302,050 Factory insurance 26,010 Production supervisor wages 131,390 Production control wages 34,160 Executive officer salaries 278,550 Materials management wages 37,580 Factory depreciation 21,290 Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory insurance and depreciation are the only fixed factory costs.
Urmilaben
answer in text form please (without image)