p10-1b - Name Date Instructor Course Managerial Accounting...

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FileName: 9c0a80344b1910a8aae01d2e94b7d502194e0007.xls, Tab: Problem P10-1B, Page 1 of 2, 12/28/2011, 19:02:13 Name: Date: Instructor: Course: 360,000 direct labor hours will be worked during 2005 in the Packaging Department. On this basis, the following budgeted manufacturing overhead data are computed. Fixed Overhead Costs Variable Overhead Costs Supervision $90,000 Indirect labor $144,000 Depreciation 60,000 Indirect materials 90,000 Insurance 30,000 Repairs 54,000 Rent 36,000 Utilities 72,000 Property taxes 18,000 Lubricants 18,000 $234,000 $378,000 It is estimated that direct labor hours worked each month will range from 27,000 to 36,000 hours. During October, 27,000 direct labor hours were worked and the following overhead costs were incurred. Fixed Overhead Costs Variable Overhead Costs Supervision $7,500 Indirect labor $11,760 Depreciation $5,000 Indirect materials 6,400 Insurance $2,470 Repairs 4,000 Rent $3,000 Utilities 5,700 Property taxes $1,500 Lubricants 1,640 $19,470 $29,500 Instructions: OAKLEY COMPANY Flexible Monthly Manufacturing Overhead Budget Packaging Department For the Year 2005 Activity level Direct labor hours 27,000 30,000 33,000 36,000 Variable costs Title Formula Formula Formula Formula Title Formula Formula Formula Formula Title Formula Formula Formula Formula Title Formula Formula Formula Formula Title Formula Formula Formula Formula Total variable costs Formula Formula Formula Formula
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