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A company manufactures plastic products for the home and restaurant market. The company also does contract work for other customers and utilizes a The flexible budget covering next years' expected range of activity is: 110,000 88,000 Variable OH Costs P100,000 P160,000 P220,000 150,000 P250,000 P310,000 P370,000 A predetermined overhead rate is based on direct labor hours is used to apply total overhead. Management has estimated that 100,000 direct labor hours will be used next year. At the end of the year, actual direct labor hours for the year were 112,375 hours and the actual manufacturing overhead for the job order costing system. Direct Labor Hours 50,000 40,000 80,000 64,000 Machine Hours Fixed OH Costs 150,000 150,000 Total OH Costs year was P412,525.

A company manufactures plastic products for the home and restaurant market. The company also does contract work for other customers and utilizes a The flexible budget covering next years' expected range of activity is: 110,000 88,000 Variable OH Costs P100,000 P160,000 P220,000 150,000 P250,000 P310,000 P370,000 A predetermined overhead rate is based on direct labor hours is used to apply total overhead. Management has estimated that 100,000 direct labor hours will be used next year. At the end of the year, actual direct labor hours for the year were 112,375 hours and the actual manufacturing overhead for the job order costing system. Direct Labor Hours 50,000 40,000 80,000 64,000 Machine Hours Fixed OH Costs 150,000 150,000 Total OH Costs year was P412,525.

Financial And Managerial Accounting
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter23: Evaluating Variances From Standard Costs
Section: Chapter Questions
Problem 4CMA: JoyT Company manufactures Maxi Dolls for sale in toy stores. In planning for this year, JoyT...
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How much is the over/underapplied FOH? Indicate whether over/underapplied. Ex. 123456 Overapplied or 123456 Underapplied
(SOLUTIONS MUST BE IN GOOD ACCOUNTING FORM. EXCEL FORM WOULD BE GREAT. ACCOUNT TITLES ON THE LEFT, AMOUNTS ON THE RIGHT. USE TABLE IF NECESSARY. AVOID PARENTHETICAL SOLUTIONS. THANKS, A LOT!)
A company manufactures plastic products for the home and restaurant market. The company also does contract work for other customers and utilizes a The flexible budget covering next years' expected range of activity is: job order costing system. Direct Labor Hours 80,000 64,000 110,000 88,000 Variable OH Costs P100,000 P160,000 P220,000 150,000 P250,000 P310,000 P370,000 A predetermined overhead rate is based on direct labor hours is used to apply total overhead. Management has estimated that 100,000 direct labor hours will be used next year. At the end of the year, actual direct labor hours for the year were 112,375 hours and the actual manufacturing overhead for the 50,000 40,000 Machine Hours Fixed OH Costs 150,000 150,000 Total OH Costs year was P412,525.
Transcribed Image Text:A company manufactures plastic products for the home and restaurant market. The company also does contract work for other customers and utilizes a The flexible budget covering next years' expected range of activity is: job order costing system. Direct Labor Hours 80,000 64,000 110,000 88,000 Variable OH Costs P100,000 P160,000 P220,000 150,000 P250,000 P310,000 P370,000 A predetermined overhead rate is based on direct labor hours is used to apply total overhead. Management has estimated that 100,000 direct labor hours will be used next year. At the end of the year, actual direct labor hours for the year were 112,375 hours and the actual manufacturing overhead for the 50,000 40,000 Machine Hours Fixed OH Costs 150,000 150,000 Total OH Costs year was P412,525.
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