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college accounting

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Jim’s Landscaping is in a business of maintaining and improving yards in the surrounding areas. The company bases its overhead cost budgets on the following data: Variable overhead costs: Supplies $4 per yard Machine maintenance $2 per yard Chemicals $6 per yard Fixed Overhead: Salaries and wages $2,300 per month Depreciation $800 per month Utilities $400 per month Rent $1,100 per month In June the following actual costs were incurred for 83 yards: Supplies $320 Machine maintenance $180 Chemicals $500 Salaries and wages $2,500 Depreciation $800 Utilities $450 Rent $1,100 Construct a flexible budget performance report using the data provided: Show computations

  • college accounting -

    Jim's Landscaping is the business of maintaining and improving yards in surrounding areas. The company bases its overhead cost budgets on the following data
    Variable overhead costs:
    Supplies $4 per yard
    Machine maintenance $2 per yard
    Chemicals $6 per yard

    Fixed overhead costs:
    Salaries and wages $2300 per month
    Machine maintenance $800 per month
    Utilities $400 per month
    Rent $1100 per month

    In June, the following actual costs were incurred for 83 yards:
    Supplies $320
    Machine maintenance $180
    Chemicals $500
    Salaries and wages $2500
    Depreciation $800
    Utilities $450
    Rent $1100

  • college accounting -

    Variable cost per unit

    12





















    Fixed overhead cost















    Salaries and wages

    2300





    Machine maintenance

    800





    Utilities

    400





    Rent

    1100





    Total

    4600





















    So overhead applied







    Variable = 83*12

    996





    Fixed

    4600





    Total overhead applied

    5596













    Actual cost incurred







    Supplies

    320





    Machine maintenance

    180





    Chemicals

    500





    Salaries and wages

    2500





    Depreciation

    800





    Utilities

    450





    Rent

    1100





    Actual cost incurred

    5850

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