Flores Company budgeted total variable costs at P250,000 for the current year. In addition, they budgeted costs for (a) factory rent at P325,000; (b) depreciation of office equipment at P20,000; (c) office rent at P140,000; and (d) depreciation of factory equipment at P60,000. All of the above costs were based upon estimated 50,080 machine hours. At the end of the accounting period, the Factory Overhead Control had a balance of P650,625. Actual machine hours were 53,210. What was the over or underapplied factory overhead for the period? * P 24,062 overapplied. P 45,312 underapplied. P 24,062 underapplied. P194,062 overapplied.

Flores Company budgeted total variable costs at P250,000 for the current year. In addition, they budgeted costs for (a) factory rent at P325,000; (b) depreciation of office equipment at P20,000; (c) office rent at P140,000; and (d) depreciation of factory equipment at P60,000. All of the above costs were based upon estimated 50,080 machine hours. At the end of the accounting period, the Factory Overhead Control had a balance of P650,625. Actual machine hours were 53,210. What was the over or underapplied factory overhead for the period? * P 24,062 overapplied. P 45,312 underapplied. P 24,062 underapplied. P194,062 overapplied.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter6: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 2CMA

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A company estimates its manufacturing overhead will be $840,000 for the next year. What is the predetermined overhead rate given each of the following Independent allocation bases? Budgeted direct labor hours: 90,615 Budgeted direct labor expense: $750000 Estimated machine hours: 150,000
Flores Company budgeted total variable costs at P250,000 for the current year. In addition, they budgeted costs for (a) factory rent at P325,000; (b) depreciation of office equipment at P20,000; (c) office rent at P140,000; and (d) depreciation of factory equipment at P60,000. All of the above costs were based upon estimated 50,080 machine hours. At the end of the accounting period, the Factory Overhead Control had a balance of P650,625. Actual machine hours were 53,210. What was the over or underapplied factory overhead for the period?
Smith Company budgeted total variable costs at $250,400 for the current year. In addition, they budgeted costs for (a) factory rent at $325,000; (b) depreciation of office equipment at $20,000; (c) office rent at $140,000; and (d) depreciation of factory equipment at $60,616. All of the above costs were based upon estimated 50,080 machine hours. At the end of the accounting period, the Factory Overhead Control had a balance of $650,625. Actual machine hours were 53,210. What was the over or underapplied factory overhead for the period?
ABC Company budgeted total variable costs at $250,400 for the current year. In addition, they budgeted costs for (a) factory rent at $325,000; (b) depreciation of office equipment at $20,000; (c) office rent at $140,000; and (d) depreciation of factory equipment at $60,616. All of the above costs were based upon estimated 50,080 machine hours. At the end of the accounting period, the Factory Overhead Control had a balance of $650,625. Actual machine hours were 53,210. What was the over or underapplied factory overhead for the period? $24,062 overapplied $45,312 underapplied $24,062 underapplied $25,142 overapplied
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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? a. P 12,650 overapplied b. P 12,650 underapplied c.. P 108,850 overapplied d.. P 108,850,underapplied
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