1. A, direct laborer of ABC Corp has a basic monthly salary of 20,000, gross of taxes and any deductions. Phil health contributions is 5% of the basic pay, gross of any deductions. The contribution to Phil health is equally shared by employee and employer. Withholding tax and other deductions from A’s gross pay totaled 3,000. A’s regular working hours for each month is 160 hours. He worked a total of 172 hours with overtime premium rate of 10%. OT hrs are due to company’ internal failure. Assuming that regular rate per hour is 125. Based on the “given data”, what is the amount to be debited to OH?
1. A, direct laborer of ABC Corp has a basic monthly salary of 20,000, gross of taxes and any deductions. Phil health contributions is 5% of the basic pay, gross of any deductions. The contribution to Phil health is equally shared by employee and employer. Withholding tax and other deductions from A’s gross pay totaled 3,000. A’s regular working hours for each month is 160 hours. He worked a total of 172 hours with overtime premium rate of 10%. OT hrs are due to company’ internal failure. Assuming that regular rate per hour is 125. Based on the “given data”, what is the amount to be debited to OH?
2. X Corp obtained the balances of different accounts at the end of 2010 as follows: Over-applied overhead P 22,000, Work in Process P 128,000, Finished Goods P 32,000; Cost of goods Sold P 240,000. The materiality threshold is 5% of the combined ending balances of all accounts containing overhead. What is the adjusted Cost of Goods Sold?
3. The following cost data relates to Job 355C:
· Direct materials: P28,400
· Indirect Materials: P7,000
· Direct labor cost: P9,600
· Direct labor hours of 200 hours
· Indirect labor cost: P4,500
· Other indirect
· Manufacturing overhead cost – applied: (160 machine hours @ P25/machine hour, based on budgeted amounts)
· Selling and shipping cost: P14,000
The Job 355C consists of 2,000 units and has been completed. The company uses normal costing of accounting for overhead. What is the cost per unit of Job 355C?
Step by step
Solved in 2 steps with 2 images
