Standard Costs and Operating Performance Measures 33. 357 The following information relates to a department of 1. Graham Company for the fourth quarter 2018: Actual total overhead (fixed plus variable). Budget formula. Total overhead application rate Spending variance Volume variance... P178,500 P110,000 plus PO.50 per hour P1.50 per hour P8,000 unfavorable P5,000 favorable ..... The total overhead variance is divided into three variances: spending, efficiency, and volume. What were the actual hours worked in this department during the quarter? 110,000 b. a. 137,000 d. 153,000 с. 121,000 Refer to Question no. 33. What were the standard hours aliowed for good output in this department during the quarter? 105,000 b. 34. 120,000 115,000 a. с. 106,667 d. Refer to Question no. 33. Each unit takes five hours to manufacture, and the selling price is P4.50 per unit. Based on the overhead budget formula, how many units must be sold to generate P30,000 more tham total budgeted overhead costs? 27,500 35,000 35. 55,000 70,000 с. a. d. b.

Standard Costs and Operating Performance Measures 33. 357 The following information relates to a department of 1. Graham Company for the fourth quarter 2018: Actual total overhead (fixed plus variable). Budget formula. Total overhead application rate Spending variance Volume variance... P178,500 P110,000 plus PO.50 per hour P1.50 per hour P8,000 unfavorable P5,000 favorable ..... The total overhead variance is divided into three variances: spending, efficiency, and volume. What were the actual hours worked in this department during the quarter? 110,000 b. a. 137,000 d. 153,000 с. 121,000 Refer to Question no. 33. What were the standard hours aliowed for good output in this department during the quarter? 105,000 b. 34. 120,000 115,000 a. с. 106,667 d. Refer to Question no. 33. Each unit takes five hours to manufacture, and the selling price is P4.50 per unit. Based on the overhead budget formula, how many units must be sold to generate P30,000 more tham total budgeted overhead costs? 27,500 35,000 35. 55,000 70,000 с. a. d. b.

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Description: The following information relates to a department of I. GrahamStandard Costs and Operating Performance MeasuresStandard Costs and Operating Performance Measures33.357Company for the fourth quarter 2018:Actual total overhead (fixed plusvariable)Budge

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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