Prepare a flexible overhead budget

Assignment Help Financial Accounting

Reference no: EM131889764

Assignment: JTL MANUFACTURING

JTL MANUFACTURING Corporation is continuing its budget preparations. JTL MANUFACTURING had the following static budget and overhead costs for March 2014.

	Manufacturing Overhead Budget	Manufacturing Overhead Costs (Actual)
	(Static) For the Month of March 2014	For the Month of March 2014
Budgeted production in units	117,500	Production in units	118,500
Budgeted costs		Costs	118,500
Indirect materials	$5,875	Indirect materials	$5,910
Indirect labor	14,100	Indirect labor	14,195
Utilities	11,750	Utilities	11,880
Maintenance	8,225	Maintenance	8,275
Salaries	42,000	Salaries	42,000
Depreciation	16,800	Depreciation	16,800
Property taxes	3,000	Property taxes	3,000
Insurance	1,200	Insurance	1,200
Janitorial	1,500	Janitorial	1,500
Total budgeted costs	$104,450	Total costs	$104,760

JTL MANUFACTURING produced 118,500 units in March rather than the budgeted number of units.

Instructions

(a) Prepare a flexible overhead budget based on the following amounts produced.

(1) 115,500 units
(2) 116,500 units
(3) 117,500 units

(b) Prepare a flexible budget report showing the differences (favorable and unfavorable) in manufacturing overhead costs for the month of March.

Reference no: EM131889764

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