70.2K

Verified Solution

Link Copied!

Joshua Hill, Sheridan & Hill Fabricators' production manager, has just completed the company's production budget for the first quarter. January 5.240 February 6,080 March 6,520 Quarter 17,840 Budgeted Direct Labor Hours for Production He has identified the following monthly expenses that will be needed to support the company's manufacturing process. Variable Overhead per DLH Depreciation Indirect materials Indirect labor Utilities Property taxes Maintenance Fixed Overhead per month $31,000 18,400 22,000 19,000 4,300 5,000 $1.30 $0.20 $0.15 $0.20 The company applies manufacturing overhead based on direct labor hours, and the current predetermined rates are $12.50 per direct labor hour for fixed manufacturing overhead and $1.85 per direct labor hour for variable manufacturing overhead. Prepare Sheridan & Hill's manufacturing overhead budget for the first quarter. (Round per unit answers to 2 decimal places, e.g. 52.75 and all other answers to 0 decimal places, e.g. 5,275.) Prepare Sheridan & Hill's manufacturing overhead budget for the first quarter. (Round per unit answers to 2 decimal places, e.g. 52.75 and all other answers to 0 decimal places, e.g. 5,275.) January February March DLH worked 5240 6080 6520 VOH per DLH $ 1.85 $ 1.85 $ 1.85 Budgeted VOH V 9694 11248 12062 Budgeted FOH Total Budgeted MOH Noncash MOH items Depreciation 31000 i 31000 i 31000 i Total Cash MOH cost $ $ $ Prepare Sheridan & Hill's manufacturing overhead budget for the first quarter. (Round per unit answers to 2 decimal places, e.g. 52.75 and all other answers to O decimal places, e.g. 5,275.) January February March Quarter 5240 6080 6520 17840 1.85 $ 1.85 $ 1.85 $ 1.85 9694 11248 12062 33004 31000 i 31000 31000 93000 i $ $ $

Answer & Explanation Solved by verified expert

See Answer