Justine Company budgeted total variable overhead costs at P180,000 for the current period. In addition, they budgeted costs for factory rent at P215,000, costs for depreciation of office equipment at P12,000 costs for office rent at P92,000, and costs for depreciation of factory equipment at P 38,000. All these costs were based upon estimated machine hours of 80,000. At the end of the period, the Factory Overhead control account had a balance of P 387,875. Actual machine hours were 74,000. 12. What was the over or underapllied factory overhead for the period? а. P 12,630 overapplied b. P 12,650 underapplied c.. P 108,850 overapplied d.. P 108,850,underapplied
Justine Company budgeted total variable overhead costs at P180,000 for the current period. In addition, they budgeted costs for factory rent at P215,000, costs for depreciation of office equipment at P12,000 costs for office rent at P92,000, and costs for depreciation of factory equipment at P 38,000. All these costs were based upon estimated machine hours of 80,000. At the end of the period, the Factory Overhead control account had a balance of P 387,875. Actual machine hours were 74,000. 12. What was the over or underapllied factory overhead for the period? а. P 12,630 overapplied b. P 12,650 underapplied c.. P 108,850 overapplied d.. P 108,850,underapplied
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
PLS ANSWER AND SHOW SOLUTION
Transcribed Image Text:Justine Company budgeted total variable overhead costs at P180,000 for the current
period. In addition, they budgeted costs for factory rent at P215,000, costs for
depreciation of office equipment at P12,000 costs for office rent at P92,000, and costs
for depreciation of factory equipment at P 38,000. All these costs were based upon
estimated machine hours of 80,000. At the end of the period, the Factory Overhead
control account had a balance of P 387,875. Actual machine hours were 74,000.
12. What was the over or underapllied factory overhead for the period?
а. Р 12,650 overapplied
b. P 12,650 underapplied
c.. P 108,850 overapplied
d.. P 108,850,underapplied
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education