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What the total amount of overhead variance

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Question - Jaguar Machines uses two rates to apply overhead to jobs. One rate is based on material cost, the other on machine time. The following data relate to 2014.

Budget -

Materials-related overhead P1,280,000

Machine-related overhead 2,200,000

Cost of materials used on jobs 3,200,000

Machine hours 400,000

Data related to three jobs worked in June follow:

 

Job X2

Job X3

Job X4

Materials

P42,000

P164,000

P78,000

Direct labor

32,000

26,000

36,000

Machine hours

17,000

9,000

5,800

Required - Actual materials related to overhead was P118,400 and actual machine related overhead was P185,600. What the total amount of overhead variance?

Reference no: EM132713388

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