7. Metro Corporation uses a predetermined overhead rate of P20 per machine hour. In deriving this figure, the company's accountant used: a denominator of budgeted machine hours for the current accounting period. b. a denominator of actual machine hours for the current accounting a. period. a denominator of actual machine hours for the previous accounting C. period. d. a numerator of budgeted machine hours for the current accounting period.
7. Metro Corporation uses a predetermined overhead rate of P20 per machine hour. In deriving this figure, the company's accountant used: a denominator of budgeted machine hours for the current accounting period. b. a denominator of actual machine hours for the current accounting a. period. a denominator of actual machine hours for the previous accounting C. period. d. a numerator of budgeted machine hours for the current accounting period.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Multiple choice
Transcribed Image Text:7. Metro Corporation uses a predetermined overhead rate of P20 per machine
hour. In deriving this figure, the company's accountant used:
a denominator of budgeted machine hours for the current accounting
period.
b. a denominator of actual machine hours for the current accounting
a.
period.
a denominator of actual machine hours for the previous accounting
period.
d. a numerator of budgeted machine hours for the current accounting
period.
C.
8. Sebastian Company applies overhead based on direct labor hours. At the
beginning of 2020, the company estimated that manufacturing overhead
would be P500,000, and direct labor hours would be 10,000. Actual
overhead by the conclusion of 2020 amounted to P400,000. On the basis of
this information, Sebastian 2020 predeterhed overhead rate is:
Transcribed Image Text:|CHAPTER 101 INTRODUCTION TO MANUFACTURING BUSINE
PO.02 per direct labor hour.
a.
b. PO.025 per direct labor hour.
P40 per direct labor hour.
d. P50 per direct labor hour.
C.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education