Iccounts ebit Receivable, Cost of Goods Sold. direct professional labor hours were estimated to be 15,000, and dire Media incurred actual overhead costs of P146,000, actual direct professional labor...

Extracted text: Iccounts ebit Receivable, Cost of Goods Sold. direct professional labor hours were estimated to be 15,000, and dire Media incurred actual overhead costs of P146,000, actual direct professional labor hours of 14,500, and actual direct labor cost of P222,000. By year-end, the firm's overhead was: a. P1,000 underapplied. b. P1,000 overapplied. C. P4,000 underapplied. d. P4,000 overapplied. 6. Galera Corporation debited Cost of Goods Sold and credited Manufacturing Overhead at year-end. On the basis of this information, one can conclude that: a. budgeted b. budgeted C. bu te d. ad exceeded actual overhead. exceeded applied overhead. was less than