Vicky has a t-shirt shop. Her plan for 2023 was to sell 5,601 t-shirts...
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Accounting
Vicky has a t-shirt shop.
Her plan for 2023 was to sell 5,601 t-shirts for $70 each. Each t-shirt is budgeted to use $10 of direct material, $20 of direct labour, $5 of variable overhead. The fixed overhead is budgeted at $5,306.
At the end of 2023, Vicky goes through the accounting records to evaluate the business and make plans for the next year. Vicky has sold 1,720 t-shirts and has an actual fixed overhead cost of $5,601
What is the flexible budget amount for fixed overhead?
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