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Overhead Cost Budget at Jim's Landscaping

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Jim's Landscaping is in the business of maintaining and improving yards in surrounding areas. The company bases its overhead cost budgets on the following data:

Variable overhead costs:
Supplies $4 per yard
Machine maintenance $2 per yard
Chemicals $6 per yard

Fixed overhead costs
Salaries and wages $2,300 per month
Depreciation $800 per month
Utilities $400 per month
Rent $1,100 per month

In June, the following actual costs were incurred for 83 yards:

Supplies $320
Machine maintenance $180
Chemicals $500
Salaries and wages $2,500
Depreciation $800
Utilities $450
Rent $1,100

Construct a flexible budget performance report using the data provided. Show computations.

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Solution Summary

This solution illustrates how to prepare a flexible budget performance report.

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Jim's Landscaping
Flexible Budget Performance Report
For June
Budgeted Actual Favorable/(Unfavorable) Variance
Number of yards 83 83 ...

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