FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Bridgeport Company uses a flexible budget for manufacturing overhead based on direct labor hours. Budgeted variable manufacturing
overhead costs per direct labor hour are as follows.
Indirect labor
Indirect materials
Utilities
Budgeted fixed overhead costs per month are Supervision $3,440, Depreciation $1,032, and property Taxes $688. The company
believes it will normally operate in a range of 6,020-8,600 direct labor hours per month.
Assume that in July 2022, Bridgeport Company incurs the following manufacturing overhead costs.
$1.00
0.70
0.40
Variable Costs
Indirect labor
Indirect materials
Utilities.
$7,568
4,988
2,752
Fixed Costs
Supervision
Depreciation
Property taxes
$3,440
1,032
688
(a) Prepare a flexible budget performance report, assuming that the company worked 7,740 direct labor hours during the month. (List
variable costs before fixed costs.)
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Transcribed Image Text:Bridgeport Company uses a flexible budget for manufacturing overhead based on direct labor hours. Budgeted variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor Indirect materials Utilities Budgeted fixed overhead costs per month are Supervision $3,440, Depreciation $1,032, and property Taxes $688. The company believes it will normally operate in a range of 6,020-8,600 direct labor hours per month. Assume that in July 2022, Bridgeport Company incurs the following manufacturing overhead costs. $1.00 0.70 0.40 Variable Costs Indirect labor Indirect materials Utilities. $7,568 4,988 2,752 Fixed Costs Supervision Depreciation Property taxes $3,440 1,032 688 (a) Prepare a flexible budget performance report, assuming that the company worked 7,740 direct labor hours during the month. (List variable costs before fixed costs.)
(b) Prepare a flexible budget performance report, assuming that the company worked 7,310 direct labor hours during the month. (List
variable costs before fixed costs.)
>
Budget
BRIDGEPORT COMPANY
Manufacturing Overhead Flexible Budget Report
For the Month Ended July 31, 2022
July 31, 2022
For the Year Ended July 31, 2022
Actual Costs
Differ
Favor
Unfavc
Neither Fi
nor Unfal
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Transcribed Image Text:(b) Prepare a flexible budget performance report, assuming that the company worked 7,310 direct labor hours during the month. (List variable costs before fixed costs.) > Budget BRIDGEPORT COMPANY Manufacturing Overhead Flexible Budget Report For the Month Ended July 31, 2022 July 31, 2022 For the Year Ended July 31, 2022 Actual Costs Differ Favor Unfavc Neither Fi nor Unfal
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