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12. RIZZA COMPANY uses a predetermined factory overhead application rate based on direct labor cost. For the year ended, December 31, 2011. Rizza's budgeed factory overhead was P 600,000, based on a budgeted volume of P 50,000 direct labor hours, at a standard direct labor rate of P 6.00 per hour. Actual factory overhead amounted to P 620,000, with actual direct labor cost of P 325,000. For 2011, over-applied factory overhead was: A P 20,000 B P 24,000 Р 30,000 D P 50,000

12. RIZZA COMPANY uses a predetermined factory overhead application rate based on direct labor cost. For the year ended, December 31, 2011. Rizza's budgeed factory overhead was P 600,000, based on a budgeted volume of P 50,000 direct labor hours, at a standard direct labor rate of P 6.00 per hour. Actual factory overhead amounted to P 620,000, with actual direct labor cost of P 325,000. For 2011, over-applied factory overhead was: A P 20,000 B P 24,000 Р 30,000 D P 50,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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HI KINDLY ANSWER NO. 12. THANK YOU :)

11. BECKY uses a job order cost system and applies factory overhead to production orders on the basis of direc-labor cost. The overhead rates for 2011 are 200% for Department A and 50% for Department B. Job 123 started and |completed during 2013 as charged with the following costs: Department A B Direct materials P 25,000 P 5,000 Direct labor ? 30,000 Factory overhead 40,000 The total manufacturing costs associated with Job 123 should be A P 135,000 P 180,000 C P 195,000 P 240,000 D 12. RIZZA COMPANY uses a predetermined factory overhead application rate based on direct labor cost. For the year ended, December 31, 2011. Rizza's budgeed factory overhead was P 600,000, based on a budgeted volume of P 50,000 direct labor hours, at a standard direct labor rate of P 6.00 per hour. Actual factory overhead amounted to P 620,000, with actual direct labor cost of P 325,000. For 2011, over-applied factory overhead was: A P 20,000 В P 24,000 сР 30,000 P 50,000 D
Transcribed Image Text:11. BECKY uses a job order cost system and applies factory overhead to production orders on the basis of direc-labor cost. The overhead rates for 2011 are 200% for Department A and 50% for Department B. Job 123 started and |completed during 2013 as charged with the following costs: Department A B Direct materials P 25,000 P 5,000 Direct labor ? 30,000 Factory overhead 40,000 The total manufacturing costs associated with Job 123 should be A P 135,000 P 180,000 C P 195,000 P 240,000 D 12. RIZZA COMPANY uses a predetermined factory overhead application rate based on direct labor cost. For the year ended, December 31, 2011. Rizza's budgeed factory overhead was P 600,000, based on a budgeted volume of P 50,000 direct labor hours, at a standard direct labor rate of P 6.00 per hour. Actual factory overhead amounted to P 620,000, with actual direct labor cost of P 325,000. For 2011, over-applied factory overhead was: A P 20,000 В P 24,000 сР 30,000 P 50,000 D
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