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Speier Company estimates that 240,000 direct labor hours will be worked during the coming year, 2014, in the Assembly Department. On this basis, the following budgeted manufacturing overhead cost data are computed for the year.
Variable Overhead Costs
Fixed Overhead Costs
Indirect labor
$72,000
$0.30
Supervision
$75,600
$6,300
Indirect materials
48,000
$0.20
Depreciation
30,000
$2,500
Repairs
36,000
$0.15
Insurance
12,000
$1,000
Utilities
24,000
$0.10
Rent
9,600
$800
Lubricants
$0.05
Property taxes
6,000
$500
$192,000
$0.80
$133,200
It is estimated that direct labor hours worked each month will range from 18,000 to 24,000 hours.
$6,200
3,600
2,500
2,300
1,000
1,700
850
1,050
500
$14,850
$11,150
Instructions:
a. Prepare a monthly flexible manufacturing overhead budget for each increment of 2,000 direct labor hours over the relevant range for the year ending December 31, 2014.
b. Prepare a manufacturing overhead budget report for January.
c. Comment on management's efficiency in controlling manufacturing overhead costs in January.
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