Reference no: EM132732358
Question - A manufacturing company has a standard costing system based on direct labor hours (DLHs) as the measure of activity . data from the company's flexible budget for manufacturing overhead are given below:
Denominator level of activity 3,700 DLHs
Overhead costs at the denominator activity level:
Variable overhead cost P28,490
Fixed overhead cost P47,545
The following data pertain to operations for the most recent period:
Actual hours 3,900 DLHs
Standard hours allowed for the actual output 3,850 DLHs
Actual total variable overhead cost P29,445
Actual total fixed overhead cost P47,995
Required -
1. What is the predetermined overhead rate to the nearest cent?
2. How much overhead was applied to products during the period to the nearest peso?
3. What was the variable overhead spending variance for the period to the nearest peso?
4. What was the variable overhead efficiency variance for the period to the nearest peso?
5. What was the fixed overhead budget variance for the period to the nearest peso?
6. What was the fixed overhead volume variance for the period to the nearest peso?
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