Braemar Saddlery uses department budgets and performance reports in planning and

Question

Braemar Saddlery uses department budgets and performance reports in planning and controlling its manufacturing operations. The following annual performance report for the custom saddle production department was presented to the president of the company:

Braemar Saddlery uses department budgets and performance reports in planning and controlling its manufacturing operations. The following annual performance report for the custom saddle production department was presented to the president of the company:

Explanation / Answer

Explanation: b. Manufacturing overhead incurred: Indirect labor $ 95,500 Indirect materials, supplies, etc. 48,400 Total fixed manufacturing costs 248,600 Total manufacturing overhead incurred $ 392,500 Manufacturing overhead applied, 150% of $261,500 (direct labor) 392,250 Underapplied manufacturing overhead $ 25

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