Guess Apparel completed 3,600 expensive bags during the 1" quarter of the current year. The following costs per unit are presented below. P200 180 Direct materials Direct labor Factory overhead, including P10 allowance for spoilage 180 Final inspection revealed that 600 bags were spoiled which were sold as export overrun at an amount equal to 40% of production costs. The good units were delivered and billed the customer at 20% gross profit. 6. If the spolage is common to all jobs, the amount billed to the customer is 7. If spoilage is due to customer's intervention, how much is the gross profit on the order?

Guess Apparel completed 3,600 expensive bags during the 1" quarter of the current year. The following costs per unit are presented below. P200 180 Direct materials Direct labor Factory overhead, including P10 allowance for spoilage 180 Final inspection revealed that 600 bags were spoiled which were sold as export overrun at an amount equal to 40% of production costs. The good units were delivered and billed the customer at 20% gross profit. 6. If the spolage is common to all jobs, the amount billed to the customer is 7. If spoilage is due to customer's intervention, how much is the gross profit on the order?

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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Anlo Corp makes bottles using the latest automated technology. The company applies FOH cost to product on the basis of machine hours. The following are estimate used to determine factory overhead rate at the start of the year Machine hours 150,000 Factory Overhead Cost 1,800,000 The company cost records shows the following actual cost incurred for the year, Machine hours 120,000 Factory Overhead Cost 1,700,000 Raw Materials 60,000 Work in Process (Includes FOH applied of P72,000) 200,000 Finished Goods (includes FOH applied of P360,000) 1,000,000 Cost of Goods Sold (includes FOH applied of P1,008,000)…
Guess Apparel completed 3, 600 expensive bags during the 1st quarter of the current year. The following costs per unit are presented below: Direct materials P200Direct Labor 180Factory overhead, included P10 allowance for spoilage 180Final inspection revealed that 600 bags were spoiled which were sold as export overrun at 40% of production costs. The good units were delivered and billed the customer at 120% above cost.If the spoilage is common to all jobs, the amount billed to the customer is:
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Kindly answer and explain the 2 questions.
44. SHINING Apparel completed 3, 600 expensive bags during the 1st quarter of the current year. The following costs per unit are presented below: Direct materials P200Direct Labor 180Factory overhead, included P10 allowance for spoilage 180Final inspection revealed that 600 bags were spoiled which were sold as export overrun at 40% of production costs. The good units were delivered and billed the customer at 120% above cost.If the spoilage is common to all jobs, the amount billed to the customer is: a. • P1,680,000 b. • P2,100,000 c. • P2,016,000 d. • P3,696,000
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