Information on Reng Company's overhead costs for January production activity is a follows: Budgeted fixed overhead P75,000 Standard fixed overhead rate per direct-labor hour P3 Standard variable overhead rate per direct-labor hour P6 Standard direct-labor hours allowed for actual production 24,000 Actual total overhead incurred P220,000 Reng has a standard absorption and flexible budgeting system and uses the two- variance method (two-way analysis) for overhead variance. The volume (denominator) variance for January is:

Information on Reng Company's overhead costs for January production activity is a follows: Budgeted fixed overhead P75,000 Standard fixed overhead rate per direct-labor hour P3 Standard variable overhead rate per direct-labor hour P6 Standard direct-labor hours allowed for actual production 24,000 Actual total overhead incurred P220,000 Reng has a standard absorption and flexible budgeting system and uses the two- variance method (two-way analysis) for overhead variance. The volume (denominator) variance for January is:

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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