Problem 2 Normal Cost Accounting The following cost of Laging Jubo Company, were actually incurred in...

 

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Problem 2 Normal Cost Accounting The following cost of Laging Jubo Company, were actually incurred in the production of 10,000 units of air conditioned underwear in June, this year: Raw materials of which 20% is indirect 12,005,000 Factory payroll of which 30% is indirect labor 10,450,000 Other Factory overhead, other than indirect materials And indirect labor 4,180,000 Factory overhead applied and charged to production is equivalent to 100% of direct labor cost. At the end of the month. the cost of in process end is 20% of total factory cost or manufacturing cost. The cost of work in process, beginning was P6,200,000. At the end of the month, the cost of finished goods left unsold is 20% of total cost of goods manufactured. There finished goods inventory, beginning Task: Q11. How much is the total factory cost? Q12. How much is the cost of goods manufactured? Q13. How much is the adjusted cost of sales? Problem 3 Hubad Lagi Company reported a net income of P555,000 for the month just ended. The goods available for sale was P2,595,000 of which P2,500,000 comes from goods produced during the current month. Finished goods at the end is 20% of the cost of sales. The gross profit rate is 50%. Task: 14. How much is the finished goods inventory at the end? 15. How much is the cost of sales? 16. How much is the amount of sales? 17. How much is the operating expenses? Problem 2 Normal Cost Accounting The following cost of Laging Jubo Company, were actually incurred in the production of 10,000 units of air conditioned underwear in June, this year: Raw materials of which 20% is indirect 12,005,000 Factory payroll of which 30% is indirect labor 10,450,000 Other Factory overhead, other than indirect materials And indirect labor 4,180,000 Factory overhead applied and charged to production is equivalent to 100% of direct labor cost. At the end of the month. the cost of in process end is 20% of total factory cost or manufacturing cost. The cost of work in process, beginning was P6,200,000. At the end of the month, the cost of finished goods left unsold is 20% of total cost of goods manufactured. There finished goods inventory, beginning Task: Q11. How much is the total factory cost? Q12. How much is the cost of goods manufactured? Q13. How much is the adjusted cost of sales? Problem 3 Hubad Lagi Company reported a net income of P555,000 for the month just ended. The goods available for sale was P2,595,000 of which P2,500,000 comes from goods produced during the current month. Finished goods at the end is 20% of the cost of sales. The gross profit rate is 50%. Task: 14. How much is the finished goods inventory at the end? 15. How much is the cost of sales? 16. How much is the amount of sales? 17. How much is the operating expenses?