Question

Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press...

Flexible Overhead Budget

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 14,000 hours of productive capacity in the department:

Variable overhead costs:
   Indirect factory labor $124,600
   Power and light 4,900
   Indirect materials 46,200
      Total variable overhead cost $175,700
Fixed overhead costs:
   Supervisory salaries $61,490
   Depreciation of plant and equipment 38,650
   Insurance and property taxes 24,600
      Total fixed overhead cost 124,740
Total factory overhead cost $300,440

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 12,000, 14,000, and 16,000 hours of production. Round your interim computations to the nearest cent, if required. Enter all amounts as positive numbers.

Leno Manufacturing Company
Factory Overhead Cost Budget-Press Department
For the Month Ended November 30
Direct labor hours 12,000 14,000 16,000
Variable overhead costs:
Indirect factory labor $ $ $
Power and light
Indirect materials
Total variable factory overhead $ $ $
Fixed factory overhead costs:
Supervisory salaries $ $ $
Depreciation of plant and equipment
Insurance and property taxes
Total fixed factory overhead $ $ $
Total factory overhead $ $ $

Homework Answers

Answer #1
  • Requirement

Leno Manufacturing Company

Factory Overhead Cost Budget-Press Department

For the Month Ended November 30

Direct labor hours

12,000

14,000

16,000

Variable overhead costs:

Indirect factory labor

$106,800

$124,600

$142,400

Power and light

$4,200

$4,900

$5,600

Indirect materials

$39,600

$46,200

$52,800

Total variable factory overhead

$150,600

$175,700

$200,800

Fixed factory overhead costs:

Supervisory salaries

$61,490

$61,490

$61,490

Depreciation of plant and equipment

$38,650

$38,650

$38,650

Insurance and property taxes

$24,600

$24,600

$24,600

Total fixed factory overhead

$124,740

$124,740

$124,740

Total factory overhead

$275,340

$300,440

$325,540

--Working for Variable cost

Direct labor hours

12000

14000

16000

Variable overhead costs:

Indirect factory labor

=124600*12000/14000

=124600*14000/14000

=124600*16000/14000

Power and light

=4900*12000/14000

=4900*14000/14000

=4900*16000/14000

Indirect materials

=46200*12000/14000

=46200*14000/14000

=46200*16000/14000

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