Tiger Furnishings produces two models of cabinets for home theater components, the Basic and the Dominator. Data on operations and costs for March follow: Basic Dominator Total Units Produced 1,000 250 1,250 Machine hours 4,000 2,000 6,000 Direct labor hours 3,000 2,000 5,000 Direct Materials costs P10,000 P3,750 P13,750 Direct labor costs 64,500 35,500 100,000 Manufacturing Overhead costs P174,100 Compute for the predetermined overhead rate using the following base: __________12. Direct labor hours __________13. Direct labor costs __________14. Machine hours
Tiger Furnishings produces two models of cabinets for home theater components, the Basic and the Dominator. Data on operations and costs for March follow:
Basic Dominator Total
Units Produced 1,000 250 1,250
Machine hours 4,000 2,000 6,000
Direct labor hours 3,000 2,000 5,000
Direct Materials costs P10,000 P3,750 P13,750
Direct labor costs 64,500 35,500 100,000
Compute for the predetermined overhead rate using the following base:
__________12. Direct labor hours
__________13. Direct labor costs
__________14. Machine hours
__________15. Physical output
__________16. Direct material cost
Avery Company uses a predetermined overhead rate based on direct labor hours. For the month of October, Avery’s budgeted overhead was P300,000 based on a budgeted volume of 100,000 direct labor hours. Actual overhead amounted to P325,000 with actual direct labor hours totaling 110,000.
Compute for the following:
__________17. Predetermined overhead rate
__________18. Factory overhead charged to Work in Process account
__________19. Under / (Over) applied factory overhead
__________20 - 22. Assume the following amounts of applied FOH in each account.
Allocate the under / over applied to these three accounts:
Cost of Goods sold P200,000
Ending Finished Goods inventory 100,000
Ending Work in Process inventory 30,000
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