Question: MANAGEMENT ACCOUNTING (MBA 002) Assignment 3 Example: M Manufacturing Co. uses job order costing for its products. The following data are given: In thousands of

MANAGEMENT ACCOUNTING (MBA 002) Assignment 3 Example: M Manufacturing Co. uses job order costing for its products. The following data are given: In thousands of pesos Job No. 12 Job No. 13 Job No. 14 Job No. 15 Total In Process, May 1, 2010: Direct Materials P8.000 P5,000 P13,000 Direct Labor 3.000 1.800 4.800 Mig. overhead applied 1,200 720 1 92 - P12,200 P7,520 P19,720 Mig. costs incurred for May: Direct Materials P6.000 P7,000 P7,500 P1.000 P21.500 Direct Labor 2.000 1.600 2,500 500 6.600 Mig. overhead applied 800 640 1,000 200 2,640 P8.800 P9.240 P11,000 P1.700 P30.740 Accumulated costs: May 31, 2010 P21.000 P16.760 P11,000 P1,700 P50.460 Additional information given: Jobs 12, 13, 14 are completed in the month of May, 2010. Conclusion from the information given: Work In-process, beginning therefore is Jobs 12 and 13 for P19, 720, while Work In-process ending is Job No. 15 amounting to P1,700. Cost of goods manufactured then is

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