Subject: Cost Accounting - Kindly answer in good form. Case b. Internal failure. The following costs were incurred in producing 2,000units of computer tables.Cost accumulation:P1,320,0001,600,000Direct materialsDirect laborManufacturing overhead (150% of DL cost)100 units were discovered defective and the cost to correct the units are as follows:Direct materialsDirect laborOverhead is applied at the same rateP20,00032,000The computer tables are then billed to customer at 60% above cost.Required: Entries to record the above from production up to its completion

Answered: Image /qna-images/answer/4d2d5e6e-ef6c-483c-9b0b-820229eeecc6.jpg

Case b. Internal failure. The following costs were incurred in producing 2,000 units of computer tables. Cost accumulation: Direct materials Direct labor Manufacturing overhead (150% of DL cost) PI,320,000 1,600,000 100 units were discovered defective and the cost to correct the units are as follows: Direct materials Direct labor Overhead is applied at the same rate P20,000 32,000 The computer tables are then billed to customer at 60% above cost. Required: Entries to record the abore from production up to its completion

Case b. Internal failure. The following costs were incurred in producing 2,000 units of computer tables. Cost accumulation: Direct materials Direct labor Manufacturing overhead (150% of DL cost) PI,320,000 1,600,000 100 units were discovered defective and the cost to correct the units are as follows: Direct materials Direct labor Overhead is applied at the same rate P20,000 32,000 The computer tables are then billed to customer at 60% above cost. Required: Entries to record the abore from production up to its completion

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

In Classification Of Cost, What Is A Business Situational Example of the ff: By Nature Or Traceability: Direct Costs & Indirect Costs By Functions By Behavior: Fixed, Variable, Semi-Variable By Control Ability: Controllable & Uncontrollable Costs By Normality: Normal Costs & Abnormal Costs By Time: Historical Costs & Predetermined Cost By Decision Making Costs
1. Discuss the significance of activity based costing(ABC) system in cost management. 2. For purposes of making decisions ,the concept of differential cost and revenue, opportunity cost and sunk cost are vitally important. Briefly explain each cost and its importance to decision making.
Describe three different ways in which managers determine cost behavior, which do you think is most accurate? How can you visualize cost behavior and why is this important?
To make predictions about costs and income, you must first classify costs by their behavior. True False
1. What is the definition of cost and explain? thank you! Please include the reference if it's okay...
Decisions where relevant cost analysis might be used effective is Make or Buy Decision. Explain IN YOUR OWN WORDS what "Make or Buy Decision" is AND MUST USE EXAMPLES IN YOUR DESCRIPTION.
Decisions where relevant cost analysis might be used effective is Sell or process decisions. Explain IN YOUR OWN WORDS what "sell or process decision" is AND MUST USE EXAMPLES IN YOUR DESCRIPTION.
Which one is Variable cost Select one: a. salaries b. Direct material c. Rent d. Insurance
TF