Maritza Corporation located in Buenos Aires, Argentina, manufactures cutlery Management estimates manufacturing overhead to be 44,000 p and direct-labor costs to be 80,000p for year 1 The actual manufacturing labor costs were 20,000p for job 1, 30,000p for job 2, and 40,000p for job 3 during year 1: the actual manufacturing overhead was 49,000p Manufacturing overhead is applied to jobs on the basis of direct-labor costs using a predetermined rate. (p denotes the peso. Argentina's national currency. Several countries use the peso as their monetary unit. On the day this exercise was written. Argentina's peso was worth 1. 003 U.S. dollars)
Required
a. How much manufacturing overhead (in Argentina's peso) was assigned to each job during year 1?
b. What was the manufacturing overhead variance for year 1?