Factory Overhead Cost Budget Venus Candy Company budgeted the following costs fo

Question

Factory Overhead Cost Budget Venus Candy Company budgeted the following costs for anticipated production for July 2016: Advertising expenses $290,760 Manufacturing supplies 15,940 Power and light 47,530 Sales commissions 321,360 Factory insurance 27,680 Production supervisor wages 139,790 Production control wages 36,350 Executive officer salaries 296,350 Materials management wages 39,970 Factory depreciation 22,640 Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory insurance and depreciation are the only fixed factory costs.

Explanation / Answer

Factory Overhead Cost Budget For the Month Ending July 31, 2016 Variable factory overhead costs: Manufacturing supplies 15940 Power and light 47530 Production supervisor wages 139790 Production control wages 36350 Materials managementwages 39970 Total Variable factory overhead costs 279580 Fixed factory overhead costs: Factory insurance 27680 Factory depreciation 22640 Total fxed Factory overhead costs 50320 Total Factory overhead costs 329900

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