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 9,000 hours of productive capacity in the department: Variable overhead cost:        Indirect factory labor $75,600      Power and light 3,780      Indirect materials 25,200         Total variable overhead cost   $104,580 Fixed overhead cost:        Supervisory salaries $36,600      Depreciation of plant and equipment 23,010      Insurance and property taxes 1

Factory Overhead Cost Budget Nutty Candy Company budgeted the following costs for anticipated production for August: Advertising expenses $274,210    Production supervisor wages $131,830 Manufacturing supplies 15,030    Production control wages 34,280 Power and light 44,820    Executive officer salaries 279,480 Sales commissions 303,060    Materials management wages 37,700 Factory insurance 26,100    Factory depreciation 21,360 Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory insurance and depreciation are the only factory fixed costs. Enter all amounts as positive numbers. NUTTY CANDY COMPANY Factory Overhead Cost Budget For the Month Ending August 31 Variable factory overhead costs:       $fill in the blank 2     fill in the blank 4     fill in the blank 6     fill in the blank 8     fill in the blank 10   Total variable factory overhead costs   $fill in the blank 11 Fixed factory overhead costs:…

Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,200 units. Sales Costs Direct materials Direct labor PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales staff commissions Depreciation-Machinery. Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-office equipment Income $ 3,040,000 1,003, 200 212,800 45,600 295,000 202,000 228,000 246,000 457,400 198,000 $ 152,000 Problem 8-1A (Algo) Preparing and analyzing a flexible budget LO P1 Required: 1&2. Prepare flexible budgets at sales volumes of 14,200 and 16,200 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,200 units. Prepare a simple budgeted income statement if 18,200 units are sold. Complete this question by entering your answers in the tabs below.

The November monthly factory overhead cost budget for Brass Ltd. at normal capacity of 10,000 units or 5,000 direct labor hours follows: Variable:      Power $ 6,000    Supplies 12,000    Maintenance 15,000    Total variable factory overhead 33,000 Fixed:      Supervisory salaries 24,000    Depreciation of buildings and equipment 8,000    Lights and heat 6,000    Property tax and insurance 22,000    Total fixed factory overhead 60,000 Total factory overhead $93,000     ​ (1)  Prepare a flexible budget for 80%, 100% and 120% of normal capacity.(2)  Determine the rate for application of factory overhead to work in process at each level of volume in relation to both units and direct labor hours.

The production supervisor of the Machining Department for Hagerstown Company agreed to the following monthly static budget for the upcoming year: Hagerstown CompanyMachining DepartmentMonthly Production Budget Wages $2,250,000 Utilities 72,000 Depreciation 36,000 Total $2,358,000 The actual amount spent and the actual units produced in the first three months in the Machining Department were as follows:   Amount Spent Units Produced May $1,600,000   40,000   June 1,950,000   48,000   July 2,200,000   52,000   The Machining Department supervisor has been very pleased with this performance because actual expenditures for May–July have been significantly less than the monthly static budget of $2,358,000. However, the plant manager believes that the budget should not remain fixed for every month but should “flex” or adjust to the volume of work that is produced in the Machining Department. Additional budget information for the Machining Department is as follows:…

The production supervisor of the Machining Department for Celtic Company agreed to the following monthly static budget for the upcoming year: Celtic Company Machining Department Monthly Production Budget Wages $290,000 Utilities 14,000 Depreciation 23,000 Total $327,000 The actual amount spent and the actual units produced in the first three months in the Machining Department were as follows: Amount Units Spent Produced January $308,000 70,000 February 290,000 63,000 March 277,000 57,000 The Machining Department supervisor has been very pleased with this performance because actual expenditures for January-March have been less than the monthly static budget of $327,000. However, the plant manager believes that the budget should not remain fixed for every month but should "flex" or adjust to the volume of work that is produced in the Machining Department. Additional budget information for the Machining Department is as follows: Wages per hour $19.00 Utility cost per direct labor hour…

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The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours:     1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted direct labor-hours 12,000 10,200 10,500 11,300   The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $7.00 per direct labor-hour and its total fixed manufacturing overhead is $88,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $22,000 per quarter.   1. Prepare the company’s manufacturing overhead budget for the upcoming fiscal year. 2. Compute the company’s predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year.

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Feeling Better Medical Inc., a manufacturer of disposable medical supplies, prepared the following factory overhead cost budget for the Assembly Department for October of the current year. The company expected to operate the department at 100% of normal capacity of 7,100 hours. Variable costs: Indirect factory wages Power and light Indirect materials $24,140 13,490 10,650 $48,280 Total variable cost Fixed costs: Supervisory salaries $13,060 Depreciation of plant and equipment 33,510 Insurance and property taxes 10,230 Total fixed cost 56,800 Total factory overhead cost $56,800 During October, the department operated at 7,500 standard hours, and the factory overhead costs incurred were indirect factory wages, $25,760; power and light, $13,990; indirect materials, $11,500; supervisory salaries, $13,060; depreciation of plant and equipment, $33,510; and insurance and property taxes, $10,230. Required: Prepare a factory overhead cost variance report for October. To be useful for cost…