Determine the following: 1. How much is the Total Manufacturing Cost? 2. How much is the Cost of Goods Manufactured? 3. How much is the Cost of Goods Sold?
Determine the following: 1. How much is the Total Manufacturing Cost? 2. How much is the Cost of Goods Manufactured? 3. How much is the Cost of Goods Sold?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:Cost Accounting and Control with SAP Job Order
Costing and Process Costing
HONESTY Company uses job order cost system. The company the company purchased direct
materials of 15,000 units at P11.2 per unit. The inventories at the beginning of the period are
as follows:
Amount
Inventory
Finished Goods
Work in Process
Direct Materials
Below are the costs incurred during the period:
Job No. Direct Materials
Direct Labor
B
C
D
E
FC
Job No.
A
B
G
32,800
73,200
89,200
27,200
51,600
21,600
96,000
11,200
36,000
24,000
72,000
168,000
96,000
120,000
38,400
DL Hours
Determine the following:
1. How much is the Total Manufacturing Cost?
2. How much is the Cost of Goods Manufactured?
50
150
350
200
During the period, manufacturing overhead costs of P140 per direct labor hour was applied to
the job while actual manufacturing overhead costs incurred was P141,200. At the end of the
period, Job No. D and G were still in process while Job No. B and F were left unsold. The rest
of the jobs were sold. The company maintains a gross profit rate of 40%.
3. How much is the Cost of Goods Sold?
4. How much is the Work in Process Inventory, ending?
5.
How much is the Finished Goods Inventory, ending?
250
80
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