Patrick Inc. makes industrial solvents. Budgeted direct labor hours for the first 3 months of the coming year are: January February March 13,140 12,300 15,075 The variable overhead rate is $0.70 per direct labor hour. Fixed overhead is budgeted at $2,720 per month. Required: Prepare an overhead budget for the months of January, February, and March, as well as the total for the first quarter. Do not include a multiplication symbol as part of your answer. Round total variable overhead and total overhead to the nearest dollar. Patrick Inc. Overhead Budget For the Coming First Quarter Overhead: Total direct labor hrs Variable overhead rate Total variable overhead Add: Fixed overhead Total overhead January February March Total
Patrick Inc. makes industrial solvents. Budgeted direct labor hours for the first 3 months of the coming year are: January February March 13,140 12,300 15,075 The variable overhead rate is $0.70 per direct labor hour. Fixed overhead is budgeted at $2,720 per month. Required: Prepare an overhead budget for the months of January, February, and March, as well as the total for the first quarter. Do not include a multiplication symbol as part of your answer. Round total variable overhead and total overhead to the nearest dollar. Patrick Inc. Overhead Budget For the Coming First Quarter Overhead: Total direct labor hrs Variable overhead rate Total variable overhead Add: Fixed overhead Total overhead January February March Total
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Patrick Inc. makes industrial solvents. Budgeted direct labor hours for the first 3 months of the coming year are:
January
February
March
13,140
12,300
15,075
The variable overhead rate is $0.70 per direct labor hour. Fixed overhead is budgeted at $2,720 per month.
Required:
Prepare an overhead budget for the months of January, February, and March, as well as the total for the first quarter. Do not include a multiplication symbol as part of your
answer. Round total variable overhead and total overhead to the nearest dollar.
Patrick Inc.
Overhead Budget
For the Coming First Quarter
Overhead:
Total direct labor hrs.
Variable overhead rate
Total variable overhead
Add: Fixed overhead
Total overhead
January February March
Total
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