How much is the over/underapplied FOH? Indicate whether over/underapplied.Ex. 123456 Overapplied or 123456 UnderappliedA company manufactures plastic products for thehome and restaurant market.The company alsodoes contract work for other customers and utilizes ajob order costing system.The flexible budgetcovering next years' expected range of activity is:50,00040,00080,00064,000P100,000 P160,000 P220,000150,000Р250,000 Р310,000 Р370,000Direct Labor Hours110,00088,000Machine HoursVariable OH CostsFixed OH Costs150,000150,000Total OH CostsA predetermined overhead rate is based on directlabor hours isusedto apply totaloverhead.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 / Budgetd 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. The flexible budget covering next years' expected range of activity is: 80,000 64,000 110,000 88,000 P100,000 P160,000 P220,000 150,000 P250,000 P310,000 P370,000 A predetermined overhead rate is based on direct 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 Direct Labor Hours Machine Hours 50,000 40,000 Variable OH Costs Fixed OH Costs Total OH Costs 150,000 150,000 labor hours is used 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. The flexible budget covering next years' expected range of activity is: 80,000 64,000 110,000 88,000 P100,000 P160,000 P220,000 150,000 P250,000 P310,000 P370,000 A predetermined overhead rate is based on direct 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 Direct Labor Hours Machine Hours 50,000 40,000 Variable OH Costs Fixed OH Costs Total OH Costs 150,000 150,000 labor hours is used 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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