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What is the standard factory overhead rate

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Reference no: EM132746620

Gigil Company has asked you to reconstruct their record after a fire. You were given the following variances:

Favorable Spending Variance- P400,000

Unfavorable Variable efficiency variance- P200,000

Favorable Volume Variance- P40,000

Total fixed overhead is P200,000 at normal capacity, The company's standard variable overhead is P40 per direct labor hour. In the given period, the company incurred a total overhead cost of P2,400,000.

Problem 1: WHAT IS THE STANDARD FACTORY OVERHEAD RATE

Reference no: EM132746620

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