D. Information concerning Zian Company's manufacturing activities for November follows: Inventories November 30, 2020 November 1, 2020 P30,000 Finished Goods P 12,500 P 7,500 150 hours 5,000 units Direct materials Direct Labor Machine Time Work in Process 7,500 units Direct materials, P2.40 per unit Direct Labor, PO,80 per unit Machine Time 120 hours P20,000 80 hours P16,250 Materials Total factory costs in November was P450,000, of which P75,000 was direct labor cost. A total of 600 machine hours were used for the month. The company uses a predetermined overhead rate of P100 per machine hour in assigning factory overhead to Work In Process and Finished Goods Inventories. Materials purchased in November were P217,500 and Freight-In on these purchases totaled P3,750. Compute the: 11. Cost of Materials used for the month is 12. Work in Process at November 30 is 13. November cost of goods manufactured is 14. Finished Goods Inventory at November 30 is 15. November Cost of Goods Sold is

D. Information concerning Zian Company's manufacturing activities for November follows: Inventories November 30, 2020 November 1, 2020 P30,000 Finished Goods P 12,500 P 7,500 150 hours 5,000 units Direct materials Direct Labor Machine Time Work in Process 7,500 units Direct materials, P2.40 per unit Direct Labor, PO,80 per unit Machine Time 120 hours P20,000 80 hours P16,250 Materials Total factory costs in November was P450,000, of which P75,000 was direct labor cost. A total of 600 machine hours were used for the month. The company uses a predetermined overhead rate of P100 per machine hour in assigning factory overhead to Work In Process and Finished Goods Inventories. Materials purchased in November were P217,500 and Freight-In on these purchases totaled P3,750. Compute the: 11. Cost of Materials used for the month is 12. Work in Process at November 30 is 13. November cost of goods manufactured is 14. Finished Goods Inventory at November 30 is 15. November Cost of Goods Sold is

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEB: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and...

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