Romaine Inc. uses a standard cost accounting system. The standard factory overhead rate was computed...
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Accounting
Romaine Inc. uses a standard cost accounting system. The standard factory overhead rate was computed based on normal capacity:
Budgeted variable expenses
12,000
Budgeted fixed expenses
8,000
TOTAL
20,000
FOH Rate (P 20,000/ 20,000 hours)
P 1.00 per DLH
Two labor hours are required to manufacture each finished unit. During the month, 9,500 units were completed. There were no opening or closing work-in-process inventories. 18,500 labor hours were worked and actual factory overhead was P18,000.
Amount (2 decimal places)
U or F
FOH Spending Var
FOH Efficiency Var
FOH Product Vol. Var
FOH Flexible Budget Var
Total FOH Var
Answer & Explanation
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