Prepare in good form a flexible budget report

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

Indirect labour $0.50

Indirect materials 1.50

Maintenance .40

Utilities .20

Budgeted fixed overhead costs per month are:

Supervision $4,000

Insurance 2,000

Property taxes 1,000

Depreciation 9,000

The company believes it will normally operate in a range of 28,000 to 35,000 machine hours per month. During the month of August, 2020, the company incurred the following manufacturing overhead costs:

Indirect Labour $14,800

Indirect Materials 44,000

Maintenance 12,000

Utilities 6,500

Supervision 4,200

Insurance 2,100

Property Taxes 800

Depreciation 8,600

Required - Prepare in good form a flexible budget report, assuming that the company used 31,000 machine hours during August.

Reference no: EM132486249

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