Maganda company manufactures pipes and uses a job order costing system. During May, the following jobs were

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Maganda company manufactures pipes and uses a job order costing system. During May, the following jobs were started (no other jobs were in process) and the following costs were incurred:
Job X Job Y Job Z Total
Materials P10,000 P20,000 P15,000 P45,000
Direct labor 5,000 4,000 2,500 11,500
P15,000 P24,000 P17,500 P56,500
In addition, estimated overhead of P300,000 and direct labor costs of P150,000 were estimated to be incurred during the year. Actual over head of P24,000 was incurred in May; overhead is applied on the basis of direct labor costs. If only Job X and Job Z were completed during the month, the journal entry to record the initiation of all jobs would be?

Last month, Sago Company placed P60,000 of materials into production. The Printing Department used 8,000 labor hours at P5.60 per hour and the Binding Department used 4,600 hours at P6.00 per hour. Factory overhead is applied at a rate of P6.00 per labor hour in the Printing Department and P8.00 per labor hour in the Binding Department. Sago's inventory accounts show the following balances:
Beginning Ending
Finished goods P22,000 P17,000
Work in process 15,000 17,600
Materials 20,000 18,000
What is the cost of goods sold at normal costing?