Hamilton Company uses job order costing’ Factory overhead is applied to production at a determined rate of 150% of direct-labor cost. Any over or underapplied factory overhead is closed to the cost of goods sold account at the end of each month. Additional information is available as follows: Job 101 was the only job in process at January 31, 2011, with accumulated costs as follows: Direct materials P4,000 Direct labor 2,000 Applied factory overhead 3,000 Total 9,000 Jobs 102, 103 and 104 were started during February Direct materials requisitions for February totaled P26,000 Direct-labor cost of P20,000 was incurred for February Actual factory overhead was P32,000 for February The only job still in process at February 28, 2011 was Job 104, with costs of P2,800 for direct materials and P1,800 for direct labor The cost of goods manufactured for February 2011 was
Hamilton Company uses
Job 101 was the only job in process at January 31, 2011, with accumulated costs as follows:
Direct materials P4,000
Direct labor 2,000
Applied factory overhead 3,000
Total 9,000
Jobs 102, 103 and 104 were started during February
Direct materials requisitions for February totaled P26,000
Direct-labor cost of P20,000 was incurred for February
Actual factory overhead was P32,000 for February
The only job still in process at February 28, 2011 was Job 104, with costs of P2,800 for direct materials and P1,800 for direct labor
The cost of goods manufactured for February 2011 was
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