company has three jobs in process: Job No. 1, Job No. 2 and Job No. 3 Raw materials used 840,000 Direct labor per hour 8.50 FOH applied based on DL cost 120% Direct materials was requisitioned as follows for each Job: 30 %, 25% and 25% respectively and the balance is for indirect materials. Direct labor hours per job are 17,500; 21,700 and 29,400, respectively. Indirect labor cost incurred is P231,000. Other actual FOH cost incurred totaled P252,000.
company has three jobs in process: Job No. 1, Job No. 2 and Job No. 3 Raw materials used 840,000 Direct labor per hour 8.50 FOH applied based on DL cost 120% Direct materials was requisitioned as follows for each Job: 30 %, 25% and 25% respectively and the balance is for indirect materials. Direct labor hours per job are 17,500; 21,700 and 29,400, respectively. Indirect labor cost incurred is P231,000. Other actual FOH cost incurred totaled P252,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
16
Transcribed Image Text:PROBLEM 3: BE SAFE CORP uses job order costing system and the following information is given. The
company has three jobs in process: Job No. 1, Job No. 2 and Job No. 3
Raw materials used
840,000
Direct labor per hour
FOH applied based on DL cost
8.50
120%
Direct materials was requisitioned as follows for each Job: 30%, 25% and 25% respectively and the
balance is for indirect materials. Direct labor hours per job are 17,500; 21,700 and 29,400,
respectively. Indirect labor cost incurred is P231,000. Other actual FOH cost incurred totaled
P252,000.
16. What are the total prime costs of Job No. 1?
17. What is the total factory overhead applied to Job No. 2?
18. What is the total amount of actual FOH incurred?
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