can you answer items #3 & #4? tysm Boone Manufacturing had worked on two jobs, Job 101 and Job 102 last year. Theestimated manufacturing overhead for last year was P 30,000 (fixed) and P5.00 pordirect labor hour (variable) and estimated 2,000 direct labor hours. The factoryoverhead control account has a balance of P 37,000. Actual hours used for Job 10was 1,200 and for Job 102 was 1,000. 3. What is the total spending variance?a. P4,000 unfavorableb. P3,000 unfavorablec. P4,000 favorabled. P7,000 favorable4. What is the total production variance?a. P4,000 unfavorableb. P3,000 unfavorablec. P3,000 favorabled. P7,000 favorable

What is the total spending variance? Predetermined overhead RateEstimated manufacturing Overhead =…

Answered: can you answer items #3 & #4? tysm

Business

Accounting

can you answer items #3 & #4? tysm

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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Question

can you answer items #3 & #4? tysm

Boone Manufacturing had worked on two jobs, Job 101 and Job 102 last year. The
estimated manufacturing overhead for last year was P 30,000 (fixed) and P5.00 por
direct labor hour (variable) and estimated 2,000 direct labor hours. The factory
overhead control account has a balance of P 37,000. Actual hours used for Job 10
was 1,200 and for Job 102 was 1,000.

3. What is the total spending variance?
a. P4,000 unfavorable
b. P3,000 unfavorable
c. P4,000 favorable
d. P7,000 favorable
4. What is the total production variance?
a. P4,000 unfavorable
b. P3,000 unfavorable
c. P3,000 favorable
d. P7,000 favorable

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Zina Manufacturing Company started and completed Job 501 in December with the following Job Cost Sheet and transferred it to the warehouse. Direct Materials Date Dec 17 Dec 30 Total Direct Labor Amount Date Amount $2,000 Dec 20 $4,000 8,000 Dec 30 3,800 Total Job Cost Sheet - Job No. 501 Total Cost The journal entry to record the transaction is A) WIP Inventory FG Inventory B) Cost of Goods Sold WIP Inventory C) FG Inventory WIP Inventory D) FG Inventory WIP Inventory Debit Credit 35,800 17,800 17,800 Manufacturing Overhead Date Amount Dec 24 $10,000 Dec 30 8,000 Total 35,800 35,800 17,800 17,800 35,800
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