3.FINAL OUTPUTanoihsgen o 19dauOutput No. 1Ellen Joyce Company is engaged in the manufacture of engines which are made only oncustomers' orders and to their specifications. During January, the company worked on Jobs201, 202, 203, and 204. The following figures summarize the cost records for the month.Job 201Job 202Job 203lob 204Direct Materials put intosilprocess:Jan. 2P15,00020,00015,000P5,00016,0001,00018P5,00010,000 P6,0003,50022282,000Direct labor coststweek endingJan. 26.1,00027,000 9.00032,00020,0001,0001627,0003,000fo235,00018,000 11,50017,5001,50030Factory overheadEngines completed60,00010032,000agu9,000 M602500.S19Jobs 201 and 202 have been completed and delivered to the customer at a total selling priceof P350,000. Job 204 is still in process. There was no work in process at the beginning of ulemonth. Required:he prece3. Prepare statement of cost of goods manufactured and sold.

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Description: 3.FINAL OUTPUTanoihsgen o 19dauOutput No. 1Ellen Joyce Company is engaged in the manufacture of engines which are made only oncustomers' orders and to their specifications. During January, the company worked on Jobs201, 202, 203, and 204. The follow

Cost of goods manufactured(COGM) includes all the direct costs incurred and overheads incurred in…

Business

Accounting

FINAL OUTPUT wpet or pecnbe Output No. 1 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 Jobs 201, 202, 203, and 204. The following figures summarize the cost records for the month. Job 201 Lob 202 Job 203 Job 204 Direct Materials put into process: Jan. 2 18 P15,000 20,000 15,000 P5,000 16,000 1,000 P5,000 10,000 3,500 22 28 Direct labor costs P6,000 2,000 week ending Jan. 2 1,000 27,000 32,000 20,000 1,000 9.000 16 27,000 3,000 23 5,000 18,000 17,500 1,500 11,500 30 Factory overhead Engines completed 60,000 32,000 g 9,000 100 60 25 000 14 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 ure month.

FINAL OUTPUT wpet or pecnbe Output No. 1 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 Jobs 201, 202, 203, and 204. The following figures summarize the cost records for the month. Job 201 Lob 202 Job 203 Job 204 Direct Materials put into process: Jan. 2 18 P15,000 20,000 15,000 P5,000 16,000 1,000 P5,000 10,000 3,500 22 28 Direct labor costs P6,000 2,000 week ending Jan. 2 1,000 27,000 32,000 20,000 1,000 9.000 16 27,000 3,000 23 5,000 18,000 17,500 1,500 11,500 30 Factory overhead Engines completed 60,000 32,000 g 9,000 100 60 25 000 14 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 ure month.

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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Unit v question 14
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