Mona moobl3 Ltd operates a standard costing system and absorbs overheads on the basis of standard labour hours. There were 500,000 labour hours budgeted and the budgeted production overheads were GH¢300,000 for the forthcoming year. The company budgeted to produce 125,000 units. The actual results for the period were as follows: Overheads-GH¢350,000, Output-130,000 units and Labour hours 450,000 hours. Which ONE of the following statements is correct?  A. Overheads were GH¢38,000 over-absorbed.  B. Overheads were GH¢38,000 under-absorbed.  C. Overheads were GH¢80,000 over-absorbed.  D. Overheads were GH¢80,000 under-absorbed. Reset Selection              ▲ Question Progress ▲

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