The Boone Manufacturing had worked on two jobs, Job 101 and Job 102 last year. estimated manufacturing overhead for last year was P 30,000 (fixed) and P5.00 Per direct labor hour (variable) and estimated 2,000 direct labor hours. The factoy overhead control account has a balance of P 37,000. Actual hours used for Job 1o was 1,200 and for Job 102 was 1,000.

The Boone Manufacturing had worked on two jobs, Job 101 and Job 102 last year. estimated manufacturing overhead for last year was P 30,000 (fixed) and P5.00 Per direct labor hour (variable) and estimated 2,000 direct labor hours. The factoy overhead control account has a balance of P 37,000. Actual hours used for Job 1o was 1,200 and for Job 102 was 1,000.

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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