Please answer in good accounting form. Thank you! <3 How much is the over/underapplied FOH?Indicate whether over/underapplied. Ex.123456 Overapplied or 123456UnderappliedA company manufactures plastic products for thehome and restaurant market. The company alsodoes contract work for other customers and utilizes aThe flexible budgetjob order costing system.covering next years' expected range of activity is:Direct Labor HoursMachine Hours50,00040,00080,00064,000110,0008৪,000Variable OH Costs P100,000 P160,000 P220,000Fixed OH Costs150,000P250,000 P310,000 P370,000150,000150,000Total OH CostsA predetermined overhead rate is based on directlabor hours is used to apply total overhead.Management has estimated that 100,000 direct laborhours will be used next year. At the end of the year,actual direct labor hours for the year were 112,375hours and the actual manufacturing overhead for theyear was P412,525.

Predetermined fixed overhead rate = Fixed OH costs / Budgeted direct labor hours = P150000/100000 =…

How much is the over/underapplied FOH? Indicate whether over/underapplied. Ex. 123456 Overapplied or 123456 Underapplied A company manufactures plastic products for the home and restaurant market. The company also does contract work for other customers and utilizes a job order costing system. covering next years' expected range of activity is: Direct Labor Hours Machine Hours Variable OH Costs Fixed OH Costs Total OH Costs The flexible budget 50,000 40,000 110,000 88,000 80,000 64,000 P100,000 P160,000 P220,000 150,000 P250,000 P310,000 P370,000 150,000 150,000 A predetermined overhead rate is based on direct labor hours is used to apply total overhead. Management has estimated that 100,000 direct labor hours will be used next year. At the end of the year, actual direct labor hours for the year were 112,375 hours and the actual manufacturing overhead for the year was P412,525.

How much is the over/underapplied FOH? Indicate whether over/underapplied. Ex. 123456 Overapplied or 123456 Underapplied A company manufactures plastic products for the home and restaurant market. The company also does contract work for other customers and utilizes a job order costing system. covering next years' expected range of activity is: Direct Labor Hours Machine Hours Variable OH Costs Fixed OH Costs Total OH Costs The flexible budget 50,000 40,000 110,000 88,000 80,000 64,000 P100,000 P160,000 P220,000 150,000 P250,000 P310,000 P370,000 150,000 150,000 A predetermined overhead rate is based on direct labor hours is used to apply total overhead. Management has estimated that 100,000 direct labor hours will be used next year. At the end of the year, actual direct labor hours for the year were 112,375 hours and the actual manufacturing overhead for the year was P412,525.

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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