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overhead rate is based on direct labor hours. cturing overhead costs incurred direct labor hours rd hours allowed for work done $118,00C 21,000 20,600

overhead rate is based on direct labor hours. cturing overhead costs incurred direct labor hours rd hours allowed for work done $118,00C 21,000 20,600

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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PROBLEM In October, Pine Company was determining its overhead variance. Its predetermined overhead rate is based on direct labor hours. The Manufacturing overhead costs incurred Actual direct labor hours Standard hours allowed for work done Predetermined overhead rate Actual overhead Overhead applied Total overhead variance $ 118,000 21,000 20,600 6.00 Compute the amount of the total overhead variance and designate if the variance is favorable or unfavorable using Excel's IF function. Nature of variance $
Transcribed Image Text:PROBLEM In October, Pine Company was determining its overhead variance. Its predetermined overhead rate is based on direct labor hours. The Manufacturing overhead costs incurred Actual direct labor hours Standard hours allowed for work done Predetermined overhead rate Actual overhead Overhead applied Total overhead variance $ 118,000 21,000 20,600 6.00 Compute the amount of the total overhead variance and designate if the variance is favorable or unfavorable using Excel's IF function. Nature of variance $
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