Company Hours Worked - Excel

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Company Hours Worked - Excel Powered By Docstoc
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e "Date" cell.
uld be necessary.
          Name:
        Course:
           Date:
P10-1A – Prepare flexible budget and budget report for manufacturing overhead
Managerial Accounting, 4th Edition, by Weygandt, Kieso, and Kimmel
Solving Managerial Accounting Problems Using Microsoft Excel for Windows
           by Rex A Schildhouse


Problem P10-1A Malone Company estimates that                  360,000 direct labor hours will be worked
during the coming year, 2008, in the Packaging Department. On this basis, the following budgeted
manufacturing overhead cost data are computed for the year.
                 Fixed Overhead Costs                              Variable Overhead Costs
           Supervision               $90,000                Indirect labor               $126,000
           Depreciation               60,000                Indirect materials             90,000
           Insurance                  30,000                Repairs                        54,000
           Rent                       24,000                Utilities                      72,000
           Property taxes             18,000                Lubricants                     18,000
                                   $222,000                                              $360,000

It is estimated that direct labor hours worked each month will range from      27,000      to      36,000
hours.
During October,          27,000 direct labor hours were worked and the following overhead costs were incurred.
                  Fixed Overhead Costs                                Variable Overhead Costs
            Supervision                 $7,500                 Indirect labor            $10,360
            Depreciation                 5,000                 Indirect materials           6,400
            Insurance                    2,470                 Repairs                      4,000
            Rent                         2,000                 Utilities                    5,700
            Property taxes               1,500                 Lubricants                   1,640

Instructions:
(a) Prepare a monthly flexible manufacturing overhead budget for each increment of         3,000     direct
labor hours over the relevant range for the year ending December 31, 2008.

                                         MALONE COMPANY
                                          Packaging Department
                             Flexible Monthly Manufacturing Overhead Budget
                                            For the Year 2008
          Activity level
          Direct labor hours                        Number       Number        Number       Number
          Variable costs
           Title                                    Amount       Amount       Amount       Amount
           Title                                    Amount       Amount       Amount       Amount
           Title                                    Amount       Amount       Amount       Amount
           Title                                    Amount       Amount       Amount       Amount
           Title                                    Amount       Amount       Amount       Amount
              Total variable costs ($1.00)          Formula      Formula      Formula      Formula




          FileName: c51114fa-c788-415c-b4e2-19fdfabca81c.xls, Tab: Problem P10-1A, Page 5 of 6, 1/6/2011, 12:10 PM
          Name:
        Course:
           Date:
P10-1A – Prepare flexible budget and budget report for manufacturing overhead
        Fixed costs
          Title                            Amount      Amount    Amount    Amount
          Title                            Amount      Amount    Amount    Amount
          Title                            Amount      Amount    Amount    Amount
          Title                            Amount      Amount    Amount    Amount
          Title                            Amount      Amount    Amount    Amount
            Total fixed costs              Formula     Formula  Formula    Formula
        Total costs                        Formula     Formula  Formula    Formula

(b) Prepare a flexible budget report for October.

                                           MALONE COMPANY
                                           Packaging Department
                              Manufacturing Overhead Budget Report (Flexible)
                                             For the Year 2008
                                              Budgeted at Actual Costs        Difference
          Direct labor hours (DLH)              Amount        Amount        Favorable - Fav
          Variable costs                          DLH          DLH        Unfavorable - Unf
           Title                                    Amount     Amount      Formula Fav / Unf
           Title                                    Amount     Amount      Formula Fav / Unf
           Title                                    Amount     Amount      Formula Fav / Unf
           Title                                    Amount     Amount      Formula Fav / Unf
           Title                                    Amount     Amount      Formula Fav / Unf
              Total variable costs ($1.00)         Formula     Formula     Formula Fav / Unf

          Fixed costs
            Title                                   Amount       Amount       Formula     Fav / Unf
            Title                                   Amount       Amount       Formula     Fav / Unf
            Title                                   Amount       Amount       Formula     Fav / Unf
            Title                                   Amount       Amount       Formula     Fav / Unf
            Title                                   Amount       Amount       Formula     Fav / Unf
              Total fixed costs                     Formula      Formula      Formula     Fav / Unf
          Total costs                               Formula      Formula      Formula     Fav / Unf

(c) Comment on management's efficiency in controlling manufacturing overhead costs in October.

The overall performance of management was slightly unfavorable. However, none of the unfavorable
differences exceeded 10% of budget except for lubricants (21%).




          FileName: c51114fa-c788-415c-b4e2-19fdfabca81c.xls, Tab: Problem P10-1A, Page 6 of 6, 1/6/2011, 12:10 PM

				
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