National Marketing Corp. uses a job order costing system, it has three production departments: X, Y...
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National Marketing Corp. uses a job order costing system, it has three production departments: X, Y and Z. The manufacturing costs budget for 2019 is as follows: Direct Materials Direct Labor Manufacturing Overhead Dept. X P 600,000 200,000 600,000 Dept. Y P 400,000 500,000 100,000 Dept. Z P 200,000 400,000 200,000 For Job No. 01-90 which was completed in 2019, direct materials cost was P75,000 and direct labor cost was as follows: Dept. X Dept. Y Dept. Z P 40,000 100,000 20,000 The corporation applies manufacturing overhead to each job order on the basis of direct labor cost using the departmental rates predetermined at the beginning of the year based on the manufacturing cost budget. How much is the total manufacturing cost of Job No. 01-90 which was completed in 2019? The following data were taken from the records of Best Company: Finished goods Work in process Raw materials Raw materials purchases, P46,000 Factory overhead, 75% of direct labor cost, P63,000 Selling and administrative expenses, 12.5% of sales, P25,000 Net Income for September, 2019, P25,000. What is the cost of raw materials inventory on August 31, 2019? 08/31/2019 09/30/2019 P 60,000 80,000 ? P 78,000 95,000 50,000 National Marketing Corp. uses a job order costing system, it has three production departments: X, Y and Z. The manufacturing costs budget for 2019 is as follows: Direct Materials Direct Labor Manufacturing Overhead Dept. X P 600,000 200,000 600,000 Dept. Y P 400,000 500,000 100,000 Dept. Z P 200,000 400,000 200,000 For Job No. 01-90 which was completed in 2019, direct materials cost was P75,000 and direct labor cost was as follows: Dept. X Dept. Y Dept. Z P 40,000 100,000 20,000 The corporation applies manufacturing overhead to each job order on the basis of direct labor cost using the departmental rates predetermined at the beginning of the year based on the manufacturing cost budget. How much is the total manufacturing cost of Job No. 01-90 which was completed in 2019? The following data were taken from the records of Best Company: Finished goods Work in process Raw materials Raw materials purchases, P46,000 Factory overhead, 75% of direct labor cost, P63,000 Selling and administrative expenses, 12.5% of sales, P25,000 Net Income for September, 2019, P25,000. What is the cost of raw materials inventory on August 31, 2019? 08/31/2019 09/30/2019 P 60,000 80,000 ? P 78,000 95,000 50,000
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Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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