9. RED Company makes and sells a single product . The company recorded the following activity and cost data for the month of May: Number of units completed 45 , 000 units Standard direct labor-hours allowed per unit of product 1.5 Budgeted direct labor-hours (denominator activity) 72 , 000 Actual fixed overhead costs incurred P66 , 000 Volume variance P4 , 275 U The fixed portion of the predetermined overhead rate is PO. 95 per direct labor-hour. Questions: 1. The amount of fixed overhead budgeted for May was: 2. The fixed overhead budget variance for May was: P (amount) (favorable or unfavorable)

9. RED Company makes and sells a single product . The company recorded the following activity and cost data for the month of May: Number of units completed 45 , 000 units Standard direct labor-hours allowed per unit of product 1.5 Budgeted direct labor-hours (denominator activity) 72 , 000 Actual fixed overhead costs incurred P66 , 000 Volume variance P4 , 275 U The fixed portion of the predetermined overhead rate is PO. 95 per direct labor-hour. Questions: 1. The amount of fixed overhead budgeted for May was: 2. The fixed overhead budget variance for May was: P (amount) (favorable or unfavorable)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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