Determine the production-volume overhead variance for June

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Question - Farkleberry Company makes clocks. The fixed overhead costs for 2020 total P960,000. The company uses direct labor- hours for fixed overhead allocation and anticipates 240,000 hours during the year for 480,000 units. An equal number of units are budgeted for each month. During June, 42,000 clocks were produced and P90,000 were spent on fixed overhead.

Required -

1. Determine the fixed overhead rate for the year based on units of input.

2. Determine the production-volume overhead variance for June.

Reference no: EM133104413

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