Question
Concorde Industries provided the following information about its standard costing system for 2019: Standard Data Actual Data Labor 2 hrs. @ Php21 per hr. Produced
- Concorde Industries provided the following information about its standard costing system for 2019:
Standard Data Actual Data
Labor 2 hrs. @ Php21 per hr. Produced 8,000 units
Budgeted fixed overhead Php100,000 Labor worked 15,000 hrs. costing Php300,000
Budgeted variable overhead Php30 per unit Actual overhead Php355,000
Budgeted production 10,000 units
Concord Industries applies fixed overhead at Php10 per unit produced.
Instructions
Determine the amounts of the overhead variances.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Answer To calculate the following variances we can use the standard costing system 1 Labor Rate Vari...
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
14th Edition
978-0132960649, 132960648, 132109174, 978-0132109178
