JPE Corporation has a job order cost systom. JPE applies overhoad to production at a prodotorminod ovorhead rate of 00X based on the diroct labor cost Job # 123 the only job still in procoss at the ond of Novomber 2020, has boon chargod with factory overhead of P2250 Tho following dobits (credits) appeared in the goneral ledgor account work-in-process for the month of November. Novomber 1 balanco P12,000 November 30 diroct materials 40,000 Novomber 30 diroct labor 30.000 November 30 factory ovorhoad 27,000 Novomber 30 to finishod goods (100,000) What is the amount of direct labor chargod to Job # 123 as at the end of November 2020? Soloct one: A PO 000 BP2.250 C P4250 D PG00
JPE Corporation has a job order cost systom. JPE applies overhoad to production at a prodotorminod ovorhead rate of 00X based on the diroct labor cost Job # 123 the only job still in procoss at the ond of Novomber 2020, has boon chargod with factory overhead of P2250 Tho following dobits (credits) appeared in the goneral ledgor account work-in-process for the month of November. Novomber 1 balanco P12,000 November 30 diroct materials 40,000 Novomber 30 diroct labor 30.000 November 30 factory ovorhoad 27,000 Novomber 30 to finishod goods (100,000) What is the amount of direct labor chargod to Job # 123 as at the end of November 2020? Soloct one: A PO 000 BP2.250 C P4250 D PG00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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