The total cost of work in process on December 31, 2020 is? The following were taken from
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The following were taken from the records of Pinoy Manufacturing Company for the year ended December 31, 2020: Material cost Direct labor costs Direct labor hours Machine set ups Entries Total P 6,196,800 10,005,600 820,000 3,900 304,000 Labor hours Machine set ups Record keeping entries The company had been using different overhead rates to reflect the activities with which overhead costs are associated. Below is the budgeted information regarding cost pools and activities together with the actual overhead costs by pool: Jobs completed & sold P5,570,400 9,091,200 742,000 3,740 272,000 Amount of activity 800,000 4,000 300,000 Budgeted OH costs P3,840,000 1,440,000 360,000 Actual OH costs P3,888,000 1,420,800 355,200 The following were taken from the records of Pinoy Manufacturing Company for the year ended December 31, 2020: Material cost Direct labor costs Direct labor hours Machine set ups Entries Total P 6,196,800 10,005,600 820,000 3,900 304,000 Labor hours Machine set ups Record keeping entries The company had been using different overhead rates to reflect the activities with which overhead costs are associated. Below is the budgeted information regarding cost pools and activities together with the actual overhead costs by pool: Jobs completed & sold P5,570,400 9,091,200 742,000 3,740 272,000 Amount of activity 800,000 4,000 300,000 Budgeted OH costs P3,840,000 1,440,000 360,000 Actual OH costs P3,888,000 1,420,800 355,200
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Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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