Aviles Company's manufacturing overhead applied was P220,000 while actual manufacturing overhead incurred was P224,000. Which of the following is always true of the above? * Manufacturing overhead overapplied by P4,000. Manufacturing overhead underapplied by P4,000. Direct labor hours was overestimated. The difference must be reported as a loss for the period.

Aviles Company's manufacturing overhead applied was P220,000 while actual manufacturing overhead incurred was P224,000. Which of the following is always true of the above? * Manufacturing overhead overapplied by P4,000. Manufacturing overhead underapplied by P4,000. Direct labor hours was overestimated. The difference must be reported as a loss for the period.

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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