Manila Company manufactures leather bags and uses the job order cost system. Its work in process show:
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Manila Company manufactures leather bags and uses the job order cost system. Its work in process show: Direct materials used P341,000 Direct labor cost 324,500 Factory overhead 259,600 Transferred to finished goods 825,000 Two jobs are still in process, upon which direct materials of P70,400 have been expended. Factory overhead is applied at a predetermined percentage of direct labor cost. How much is the direct material cost component on the jobs transferred to the finished goods?
Related Book For
Managerial Accounting
ISBN: 978-0077826482
3rd edition
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
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