Pollitt Potato Packers Has a Flexible Budget for Manufacturing Overhead

question 67

Multiple Choice

Pollitt Potato Packers has a flexible budget for manufacturing overhead that is based on direct labour hours. The following overhead costs appear on the flexible budget at the 200,000-hour level of activity:
$\begin{array} { | l | r | } \hline \text { Variable overhead costs (total) : } & \\\hline \text { Packing supplies } & \$ 120,000 \\\hline \text { Indirect labour } & \$ 180,000 \\\hline \text { Fixed overhead costs (total) : } &\\\hline \text { Utilities } & \$ 100,000 \\\hline \text { Insurance } & \$ 40,000 \\\hline \text { Rent } & \$ 20,000\\\hline\end{array}$

-At an activity level of 180,000 direct labour hours,what amount would the flexible budget estimate for total budgeted fixed costs?

• A) $100,000.
• B) $144,000.
• C) $150,000.
• D) $160,000.

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Definitions:

Allowance for Doubtful Accounts

A contra-account reducing accounts receivable to reflect the estimated portion that may not be collected.

Uncollectibles

Debts owed to a company that are considered unlikely to be paid and are therefore written off as a loss.

Income Statement Approach

A method to prepare the bad debt expense by estimating uncollectible accounts at the end of each period based on expected losses.

Accounts Receivable

Represents the money owed to a company by its customers for goods or services delivered on credit.