"Drums of Fu Manchu" was budgeted at $164,052 although the final negative cost was $166,312 (a $2,260, or 1.4%, overspend). It was the most expensive Republic serial of 1940, although this year was the first in which Republic's overall spending on serial production was less than in the previous year. Republic spent $597,528 producing serials in 1940 compared to $648,064 in 1939 (1939's total would not be beaten until the $782,204 of 1944). The studio produced four serials in each year, with the same mix of two 12-chapter serials and two 15-chapter serials.