Prob 3. Mabini company uses a standard cost system for its machine paced production of telephone equipment. Data regarding production during June follow: Variable overhead costs incurred, P155,100 Variable overhead costs applied at P12 per machine hour Fixed overhead cost incurred, P401,000 Fixed overhead budgeted, P390,000 Denominator value in machine hours, 13,000 Standard machine hours allowed per equiv. unit of output, 0.3 Equiv. units of output, 41,000 Actual machine hours used, 13,300 Ending work in process inventory, zero

Prob 3. Mabini company uses a standard cost system for its machine paced production of telephone equipment. Data regarding production during June follow: Variable overhead costs incurred, P155,100 Variable overhead costs applied at P12 per machine hour Fixed overhead cost incurred, P401,000 Fixed overhead budgeted, P390,000 Denominator value in machine hours, 13,000 Standard machine hours allowed per equiv. unit of output, 0.3 Equiv. units of output, 41,000 Actual machine hours used, 13,300 Ending work in process inventory, zero

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Description: Prob 3. Mabini company uses a standard cost system for its machine paced production oftelephone equipment. Data regarding production during June follow:Variable overhead costs incurred, P155,100Variable overhead costs applied at P12 per machine hour

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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