4.00 points E9-2 Preparing Flexible Budget for Manufacturing Costs [LO 9-2] Oliv

Question

4.00 points E9-2 Preparing Flexible Budget for Manufacturing Costs [LO 9-2] Olive Company makes silver belt buckles. The company's master budget appears in the first column of the table. Required: Complete the table by preparing Olive's flexible budget for 4,300,6,300, and 7,300 units. (Round your intermediate calculations to 2 decimal places.) Flexible Budget 4,300 Units Flexible Budget (7,300 Units) Master Budget 530 2,120 1,060 17,700 S 21,410 Flexible Budget (6,300 Units) (5,300 Units) ) Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing cost

Explanation / Answer

Solution:

Olive's Flexible Budget Particulars Per unit cost Master Budget (5300 Units) Flexible Budget (4300 Units) Flexible Budget (6300 Units) Flexible Budget (7300 Units) Direct Materials $0.10 $530.00 $430.00 $630.00 $730.00 Direct Labor $0.40 $2,120.00 $1,720.00 $2,520.00 $2,920.00 Variable manufacturing overhead $0.20 $1,060.00 $860.00 $1,260.00 $1,460.00 Fixed Manufacturing Overhead $17,700.00 $17,700.00 $17,700.00 $17,700.00 Total $21,410.00 $20,710.00 $22,110.00 $22,810.00

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