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Compute the manufacturing overhead application rate

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Question - The normal operating capacity of Rogelio, Inc. is 150,000 machine hours per month, the level used to compute the predetermined overhead application rate.  At this level of activity, fixed manufacturing overhead is estimated to be P900,000, and variable manufacturing overhead is estimated to be P450,000. During April, actual production required 140,000 machine hours, and actual manufacturing overhead totaled P1,305,000.

Required -

Compute the manufacturing overhead application rate.

Is manufacturing overhead for April over-or-underapplied and by how much?

How much is the controllable variance, and is it favorable or unfavorable?

How much is the volume variance, and is it favorable or unfavorable?

Reference no: EM133036024

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