Ellen Joyce Company is engaged in the manufacture of engines which are made only on customers' orders and to their specifications. During January, the company worked on Johs 201, 202, 203, and 204. The following figures summarize the cost records for the month. lob 201 lob 202 lob 203 lob 204 Direct Materials put into process: Jan. 2 P15,000 20,000 15,000 P5,000 16,000 1,000 P5,000 10,000 3,500 18 P6,000 2,000 22 28 Direct labor costs week ending Jan. 2 9. 1,000 27,000 32,000 20,000 1,000 9.000 16 27,000 3,000 1,500 11,500 9,000 23 5,000 18,000 17,500 25 30 Factory overhead Engines completed 60,000 32,000 100 60 Jobs 201 and 202 have been completed and delivered to the customer at a total selling price of P350,000. Job 204 is still in process. There was no work in process at the beginning of the month.
Ellen Joyce Company is engaged in the manufacture of engines which are made only on customers' orders and to their specifications. During January, the company worked on Johs 201, 202, 203, and 204. The following figures summarize the cost records for the month. lob 201 lob 202 lob 203 lob 204 Direct Materials put into process: Jan. 2 P15,000 20,000 15,000 P5,000 16,000 1,000 P5,000 10,000 3,500 18 P6,000 2,000 22 28 Direct labor costs week ending Jan. 2 9. 1,000 27,000 32,000 20,000 1,000 9.000 16 27,000 3,000 1,500 11,500 9,000 23 5,000 18,000 17,500 25 30 Factory overhead Engines completed 60,000 32,000 100 60 Jobs 201 and 202 have been completed and delivered to the customer at a total selling price of P350,000. Job 204 is still in process. There was no work in process at the beginning of the month.
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Ellen Joyce Company is engaged in the manufacture of engines which are made only on
customers' orders and to their specifications. During January, the company worked on Johs
201, 202, 203, and 204. The following figures summarize the cost records for the month.
lob 201
lob 202
lob 203
lob 204
Direct Materials put into
process:
Jan. 2
P15,000
20,000
15,000
P5,000
16,000
1,000
P5,000
10,000
3,500
18
P6,000
2,000
22
28
Direct labor costs
week ending
Jan. 2
9.
1,000
9.000
1,000
27,000
32,000
20,000
16
27,000
3,000
5,000
18,000
17,500
25
1,500
11,500
9,000
23
30
Factory overhead
Engines completed
60,000
100
32,000
60
Jobs 201 and 202 have been completed and delivered to the customer at a total selling price
of P350,000. Job 204 is still in process. There was no work in process at the beginning of the
month.
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