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Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable...

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Accounting

Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor $1.30 Indirect materials 0.70 Utilities 0.40 Fixed overhead costs per month are Supervision $4,500, Depreciation $1,000, and Property Taxes $700. The company believes it will normally operate in a range of 6,30011,100 direct labor hours per month. Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs. Variable Costs Fixed Costs Indirect labor $12,140 Supervision $4,500 Indirect materials 6,470 Depreciation 1,000 Utilities 3,370 Property taxes 700

(a) Prepare a flexible budget performance report, assuming that the company worked 9,500 direct labor hours during the month. (List variable costs before fixed costs.)

(b) Prepare a flexible budget performance report, assuming that the company worked 8,700 direct labor hours during the month. (List variable costs before fixed costs.)

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