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CoursHeroTranscribedText: The Charito Company is planning an overhead budget cost budget for the next month,...

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Accounting

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CoursHeroTranscribedText: The Charito Company is planning an overhead budget cost budget for the next month, July, 2021. Past cost studies indicate that costs have followed behavior patterns as given below: Variable Rate Per Hour Indirect materials P0.90 Heat, light & power 1.20 Repairs & maintenance 4.60 Lubrication 0.50 In addition, management has estimated fixed factory overhead as follows: Supervision P44,000 Indirect labor 36,000 Heat, light & power 14,500 Repairs & maintenance 17,200 Taxes & insurance 9,000 Total P129,000 During the next month, the company plans to manufacture 150,000 units of product. Products are produced at the rate of 6 units per hour. Normal plant capacity is 30,000 hours

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