Question

I have to create factory overhead budget: I answered it but I'm hoping I can get...

I have to create factory overhead budget:

I answered it but I'm hoping I can get it checked out.

INPUT AREA:
DIRECT LABOR HOURS INFORMATION: FROM THE "LABOR" WORKSHEET
     VARIABLE OVERHEAD RATE PER DIRECT LABOR HOUR $4.50
     INDIRECT LABOR PER MONTH $42,320
     PROPERTY TAX PER MONTH $2,500
     EQUIPMENT DEPRECIATION PER MONTH $5,000
OUTPUT AREA:
FACTORY OVERHEAD BUDGET
FOURTH QUARTER, 2018
OCTOBER NOVEMBER DECEMBER
- - -
TOTAL DIRECT LABOR HOURS NEEDED 1,160 1,207 351
VARIABLE OVERHEAD RATE $4.50 $4.50 $4.50
TOTAL VARIABLE OVERHEAD $5,220 $5,431 $1,580
FIXED OVERHEAD:
   INDIRECT LABOR $42,320 $42,320 $42,320
   PROPERTY TAX $2,500 $2,500 $2,500
   EQUIPMENT DEPRECIATION $5,000 $5,000 $5,000
TOTAL MANUFACTURING OVERHEAD $49,820 $49,820 $49,820
LESS: DEPRECIATION OF EQUIPMENT $5,000 $5,000 $5,000
TOTAL CASH OUTFLOW FOR MAN. OVERHEAD $44,820 $44,820 $44,820
Business   Accounting   
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Answer #1

Overhead budget :

October November December
Labour hour needed 1160 1207 351
Variable overhead rate 4.50 4.50 4.50
Total variable overhead 5220 5432 1580
Fixed overhead
Indirect labour 42320 42320 42320
Property tax 2500 2500 2500
Equipment depreciation 5000 5000 5000
Total fixed overhead 49820 49820 49820
Total manufacturing overhead 55040 55252 51400
Less: Depreciation -5000 -5000 -5000
Cash disbursement of manufacturing overhead 50040 50252 46400
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