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2. Kent Company sets the following standards for 2007: Direct labor cost (2 DLH @ P4.50) P9.00 Manufacturing overhead (2 DLH @ P17.50) P15.00 Kent
2. Kent Company sets the following standards for 2007: Direct labor cost (2 DLH @ P4.50) P9.00 Manufacturing overhead (2 DLH @ P17.50) P15.00 Kent Company plans to produce its only product equally each month. The annual budget for overhead costs are: Fixed overhead P150,000 Variable overhead P300,000 Normal activity in direct labor hours P60,000 In March, Kent Company produced 2,450 units with actual direct labor hours used of 5,050. Actual overhead costs for the month amounted to P37,245 (Fixed overhead is as budgeted). The amount of overhead volume variance for Kent Company is
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