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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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