A company uses job order costing. At the beginning of March, two jobs were in process. Job 769 Job 772 Materials Php 80,000 Php 28,000 Direct labor 40,000 12,000 Applied factory overhead 60,000 18,000 There was no inventory of finished goods on March 1. During the month, Jobs 773, 774, 776, 778, and 779 were started. Materials requisitions for March totaled Php 520,000, direct labor cost Php 400,000 and actual factory overhead amounting to Php 640,000. The only job still in process at the end of the month is Job 779, with costs of Php 56,000 materials and Php 36,000 for direct labor. Job 776, the only finished job on hand at the end of March, has a total cost of Php 80,000. Compute for the cost of goods sold at normal before any adjustment

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Jobs in process at beginning of March Job 769 Materials P80000 Direct labor P4000... View the full answer