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Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the company's manufacturing overhead budget for the upcoming fiscal year. (Round "Variable manufacturing overhead rate" answers to 2 decimal places.) Yuvwell Corporation Manufacturing Overhead Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Variable manufacturing overhead rate Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Cash disbursements for manufacturing overhead Required 1 Required 2
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year. (Round your answer to 2 decimal places.) Predetermined overhead rate for the year Required 1 Required 2
Solution:
1.
Yuvwell corporation
Manufacturing Overhead Budget
|
1st Quarter |
2nd Quartetr |
3rd Quarter |
4th Quarter |
Year | |
| Budgeted direct labor hours | 8,200 | 8,300 | 8,600 | 8,000 | 33,100 |
| Variable manufacturing overhead rate | 2.25 | 2.25 | 2.25 | 2.25 | 2.25 |
|
Variable Manufacturing overhead (Budgeted directlabour hours x variable manufacturing overhead) |
18,450 | 18,675 | 19,350 | 18,000 | 74,475 |
| Fixed manufacturing overhead | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 |
| Total manufacturing overhead | 68,450 | 68,675 | 69,350 | 68,000 | 124,475 |
| Less: Depreciation | 12,500 | 12,500 | 12,500 | 12,500 | 12,500 |
| Cash disbursements for manufacturing overhead | 80,950 | 81,175 | 81,850 | 80,500 | 136,975 |
2.
Predetermined overhead rate for the year = total manufacturing overhead/ Budgeted direct labour hours = 124475/33100 = 3.7605 = 3.76
