Prepare a flexible budget report assuming that the company

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Reference no: EM13482680

Fagan Company uses a flexible budget for manufacturing overhead based on machine hours. Variable manufacturing overhead costs per machine hour are as follows:

        IndirectLabor        $5.00
        IndirectMaterials      2.50
       Maintenance              .50
       Utilities                       .30

Fixed Overhead costs per month are:
       Supervision           $600
       Insurance               200
        PropertyTaxes       300
       Depreciation          900

The company believes it will normally operate in a range of 2,000 to 4,000 machine hours per month. During the month of August 2008 the company incurs the following manufacturing overhead costs:

   IndirectLabor          14,000
        IndirectMaterials      8,100
       Maintenance              1,400
       Utilities                       950
        Supervision              720
       Insurance                  200
        PropertyTaxes      300
       Depreciation           930

Prepare a flexible budget report, assuming that the company used 3,000 machine hours during August.

Reference no: EM13482680

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