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Patrick Inc. makes industrial solvents. Budgeted direct labor hours for the first 3 months of...

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Accounting

Patrick Inc. makes industrial solvents. Budgeted direct labor hours for the first 3 months of the coming year are:

January 13,140
February 12,300
March 15,075

The variable overhead rate is $0.70 per direct labor hour. Fixed overhead is budgeted at $2,950 per month.

Required:

Prepare an overhead budget for the months of January, February, and March, as well as the total for the first quarter. Do not include a multiplication symbol as part of your answer. Round total variable overhead and total overhead to the nearest dollar.

Patrick Inc.
Overhead Budget
For the Coming First Quarter
Overhead: January February March Total
Total direct labor hrs fill in the blank 1 fill in the blank 2 fill in the blank 3 fill in the blank 4
Variable overhead rate $fill in the blank 5 $fill in the blank 6 $fill in the blank 7 $fill in the blank 8
Total variable overhead $fill in the blank 9 $fill in the blank 10 $fill in the blank 11 $fill in the blank 12
Add: Fixed overhead fill in the blank 13 fill in the blank 14 fill in the blank 15 fill in the blank 16
Total overhead $fill in the blank 17 $fill in the blank 18 $fill in the blank 19 $fill in the blank 20

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