Variable Costs ndirect materials ndirect labor Utilities Maintenance $13,680 11,400 9,120 6,840 Fixed Costs Supervisory salaries Depreciation Property taxes and insurance Maintenance $41,040 7,980 9,120 5,700 ctual variable costs were indirect materials $15,390, indirect labor $10,830, utilities $9,918, and maintenance $5,700. Actual f sts equaled budgeted costs except for property taxes and insurance, which were $9,462. The actual activity level equaled the idgeted level.
Variable Costs ndirect materials ndirect labor Utilities Maintenance $13,680 11,400 9,120 6,840 Fixed Costs Supervisory salaries Depreciation Property taxes and insurance Maintenance $41,040 7,980 9,120 5,700 ctual variable costs were indirect materials $15,390, indirect labor $10,830, utilities $9,918, and maintenance $5,700. Actual f sts equaled budgeted costs except for property taxes and insurance, which were $9,462. The actual activity level equaled the idgeted level.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please do not give solution in image format thanku
Transcribed Image Text:- $
Controllable Costs
(b) Prepare a responsibility report for the first quarter.
$
$
Budget
Show transcribed image text
CONCORD INC.
Manufacturing Overhead Flexible Budget Report
For the Quarter Ended March 31, 2020
Budget
$
Actual
$
CONCORD INC.
Manufacturing Overhead Responsibility Report
For the Quarter Ended March 31, 2020
$
Actual
$
Difference
Favorable
Unfavorable
Neither Favorable
nor Unfavorable
Difference
Favorable
Unfavorable
Neither Favorable
nor Unfavorable
▾
▾
Y
Transcribed Image Text:Concord Inc.'s manufacturing overhead budget for the first quarter of 2022 contained the following data.
Variable Costs
Indirect materials
Indirect labor
Utilities
Maintenance
$13,680 Supervisory salaries
11,400
Depreciation
Property taxes and insurance
9,120
6,840
Fixed Costs
Maintenance
$41,040
7,980
9,120
5,700
Actual variable costs were indirect materials $15,390, indirect labor $10,830, utilities $9,918, and maintenance $5,700. Actual fixed
costs equaled budgeted costs except for property taxes and insurance, which were $9,462. The actual activity level equaled the
budgeted level.
All costs are considered controllable by the production department manager except for depreciation, and property taxes and
insurance.
(a) Prepare a manufacturing overhead flexible budget report for the first quarter. (List variable costs before fixed costs.)
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