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Kecilyn Manufacturing uses the direct labor cost method for applying factory overhead to production. The budgeted direct labor cost and factory overhead for the previous fiscal year were P1,000,000 and P800,000, respectively. Actual direct labor cost and factory overhead were P1,100,000 and P825,000, respectively. What is the amount of under- or overapplied factory overhead? P50,000 underapplied P80,000 overapplied P55,000 overapplied

Kecilyn Manufacturing uses the direct labor cost method for applying factory overhead to production. The budgeted direct labor cost and factory overhead for the previous fiscal year were P1,000,000 and P800,000, respectively. Actual direct labor cost and factory overhead were P1,100,000 and P825,000, respectively. What is the amount of under- or overapplied factory overhead? P50,000 underapplied P80,000 overapplied P55,000 overapplied

FINANCIAL ACCOUNTING
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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Kecilyn Manufacturing uses the direct labor cost method for applying factory overhead to production. The budgeted direct labor cost and factory overhead for the previous fiscal year were P1,000,000 and P800,000, respectively. Actual direct labor cost and factory overhead were P1,100,000 and P825,000, respectively. What is the amount of under- or overapplied factory overhead? P50,000 underapplied P80,000 overapplied O P55,000 overapplied O P25,000 overapplied
Transcribed Image Text:Kecilyn Manufacturing uses the direct labor cost method for applying factory overhead to production. The budgeted direct labor cost and factory overhead for the previous fiscal year were P1,000,000 and P800,000, respectively. Actual direct labor cost and factory overhead were P1,100,000 and P825,000, respectively. What is the amount of under- or overapplied factory overhead? P50,000 underapplied P80,000 overapplied O P55,000 overapplied O P25,000 overapplied
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