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Question 1: Bird Bucks' production budget for the year ended November 30, 2018 was based on 200,000 units. Each unit requires two standard hours of labor for completion. Total overhead was budgeted at P900,000 for the year, and the fixed overhead rate was estimated to be P3.00 per unit. Both fixed and variable overhead are assigned to the product on the basis of direct labor hours. The actual data for the year ended November 30, 2018 are presented below. Actual production in units 198,000 Actual direct labor hours 440,000 Actual variable overhead P 352,000 Actual fixed overhead P 575,000 The standard hours allowed for actual production for the year ended November 30, 2018 total:
a. 247,500
b. 396,000
c. 400,000
d. 495,000
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