NFL Inc. produces sports equipment made to customers' specifications. The following data pertain to Job 101....

 

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NFL Inc. produces sports equipment made to customers' specifications. The following data pertain to Job 101. Materials - Dept 1 6 month ending 6 month ending Jun 30, 2020 P100,000 P10/hour 4,000 hours Dec 31, 2020 P200,000 P15/hour 2.000 hours Direct labor rate-Dept 1 Labor hours used - Dept 1 Direct labor rate-Dept 2 Labor hours used - Dept 2 Machine hours used - Dept 2 P20//hour P30/hour 1,000 hours 3.000 hours 2.000 hours 1,000 hours Additional data: NFL Inc. determined that the amount of operating expenses is 10% of full production cost of job. The company has provided a net profit mark up of 20% based on sales. Applied factory overhead: Dept 1 = P5.00 per direct labor hour: Dept 2 = P2.00 per machine hour. What is the net profit if Job 101 was completed and sold in year 2020? NFL Inc. produces sports equipment made to customers' specifications. The following data pertain to Job 101. Materials - Dept 1 6 month ending 6 month ending Jun 30, 2020 P100,000 P10/hour 4,000 hours Dec 31, 2020 P200,000 P15/hour 2.000 hours Direct labor rate-Dept 1 Labor hours used - Dept 1 Direct labor rate-Dept 2 Labor hours used - Dept 2 Machine hours used - Dept 2 P20//hour P30/hour 1,000 hours 3.000 hours 2.000 hours 1,000 hours Additional data: NFL Inc. determined that the amount of operating expenses is 10% of full production cost of job. The company has provided a net profit mark up of 20% based on sales. Applied factory overhead: Dept 1 = P5.00 per direct labor hour: Dept 2 = P2.00 per machine hour. What is the net profit if Job 101 was completed and sold in year 2020?