7. "A manufacturing company applies Factory Overhead to Production @ Rs 10 per Direct Labour hour. During the last year, total factory Overhead cost incurred was Rs 75,000 and the total Direct Labour Hours worked were 8,000. State which of the following is the correct adjustment of Factory Overhead." "FOH Over applied Rs 5,000" "FOH Under applied Rs 5,000" "Cost of goods sold increased by Rs 5,000" "Gross Profit decreased by Rs 5,000"
7. "A manufacturing company applies Factory Overhead to Production @ Rs 10 per Direct Labour hour. During the last year, total factory Overhead cost incurred was Rs 75,000 and the total Direct Labour Hours worked were 8,000. State which of the following is the correct adjustment of Factory Overhead." "FOH Over applied Rs 5,000" "FOH Under applied Rs 5,000" "Cost of goods sold increased by Rs 5,000" "Gross Profit decreased by Rs 5,000"
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
7. "A manufacturing company applies Factory Overhead to Production @ Rs 10 per Direct Labour hour. During the last year, total factory Overhead cost incurred was Rs 75,000 and the total Direct Labour Hours worked were 8,000. State which of the following is the correct adjustment of Factory Overhead."
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"FOH Over applied Rs 5,000"
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"FOH Under applied Rs 5,000"
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"Cost of goods sold increased by Rs 5,000"
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"Gross Profit decreased by Rs 5,000"
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