XYZ industries applies overhead based on direct labor cost. The following information was available for the last year: Actual manufacturing overhead OMR50,000; Underapplied manufacturing overhead OMR10,400; Actual Prime cost OMR52,000; Actual Direct material cost OMR19,000; Estimated direct labor cost OMR43,000. What was the estimated manufacturing overhead for the year? Select one: O a. None of the answers given O b. OMR49,200 O c. OMR51,600 O d. OMR39,600 e. OMR46,800
XYZ industries applies overhead based on direct labor cost. The following information was available for the last year: Actual manufacturing overhead OMR50,000; Underapplied manufacturing overhead OMR10,400; Actual Prime cost OMR52,000; Actual Direct material cost OMR19,000; Estimated direct labor cost OMR43,000. What was the estimated manufacturing overhead for the year? Select one: O a. None of the answers given O b. OMR49,200 O c. OMR51,600 O d. OMR39,600 e. OMR46,800
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 9PB: Mountain Tops applies overhead on the basis of direct labor hours and reports the following...
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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