Question
Sunland Inc.'s manufacturing overhead budget for the first quarter of 2020 contained the following data. Variable...
Sunland Inc.'s manufacturing overhead budget for the first quarter of 2020 contained the following data. Variable Costs Fixed Costs Indirect materials $11,100 Supervisory salaries Indirect labor 10,700 Depreciation Utilities 7,800 Property taxes and insurance Maintenance 5,700 Maintenance $35,400 7,500 7,300 4,000 Actual variable costs were indirect materials $15, 100, indirect labor $9,500, utilities $9.600, and maintenance $5,200. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $8,300. The actual activity level equaled the budgeted level. All costs are considered controllable by the production department manager except for depreciation, and property taxes and insurance. (a) Prepare a manufacturing overhead flexible budget report for the first quarter. (List variable costs before fixed costs.)
SUNLAND INC. Manufacturing Overhead Flexible Budget Report For the Quarter Ended March 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual
(b) Prepare a responsibility report for the first quarter. SUNLAND INC. Manufacturing Overhead Responsibility Report For the Quarter Ended March 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Controllable Costs Budget Actual
Answers
Manufacturing Overhead Flexible Budget Budget Actual Variance Variable Cost :- Indirect Materials $11.100 $15.100 $4.000 U Indirect Labor $10.7001 $9,500 $1,200 F Utilities $7.800 $9.600 $1,800 U Maintenance $5.700 $5,200 $500 F Total Variable Cost $35,300 $39,400 $4,100 | Fixed Cost :- Supervisory Salaries $35,400 $35.4001 Depreciation $7,500 $7.500 SON Property taxes and insurance $7.3001 $8.300 $1,000 U Maintenance $4,000 $4,000 SON Total Fixed Cost (B) $54,200 $55,200 $1,000 U Total Cost (A+B) $89.500 $94.600 $5.100 U SONI Variance Manufacturing overhead responsibility report Budget Actual Controllable Cost :- Indirect Materials $11,100 $15,100 Indirect Labor $10.700 $9,500 Utilities $7.800 $9.600 Maintenance (Variable + Fixed) $9,700 $9,200 Supervisory salaries $35.400 $35.400 Total cost $74.700 $78,800 $4.000 U $1,200 F $1.800 U $500 F SON $4.100 U
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