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 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
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19
19. What is the amount of the factory overhead applied to process?
20. If Job No. 3 is completed and transferred, what is the balance
Of work-in-process at the end of the period?
Transcribed Image Text:19. What is the amount of the factory overhead applied to process? 20. If Job No. 3 is completed and transferred, what is the balance Of work-in-process at the end of the period?
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.
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.
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