Budgeting is a process to prepare the financial statement by the manager to estimate the organization’s future actions. It is also helpful to satisfy the everyday activities. To Prepare: The factory overhead cost budget of Company S.

Question

Toot Sweet Company budgeted the following costs for anticipated production for August: Advertising expenses $241,360 Manufacturing supplies 13,230 Power and light 39,450 Sales commissions 260,760 Factory insurance 22,970 Production supervisor wages 116,040 Production control wages 30,170 Executive officer salaries 246,000 Materials management wages 33,190 Factory depreciation 18,800 Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory insurance and depreciation are the only fixed factory costs. Toot Sweet Company Factory Overhead Cost Budget For the Month Ending August 31 Variable factory overhead costs: Total variable factory overhead costs Fixed factory overhead costs: Total fixed factory overhead costs Total factory overhead costs

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Chapter 21, Problem 21.15EX

To determine

Budgeting is a process to prepare the financial statement by the manager to estimate the organization’s future actions. It is also helpful to satisfy the everyday activities.

To Prepare: The factory overhead cost budget of Company S.

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