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Neem Company uses a job-order cost system. The following information was recorded for May (SEE PICTURE BELOW): Direct labor rate is set at P10 per hour. Applied overhead is computed at the rate of P5 per direct labor-hour. Jobs 1, 2, and 3 have been transferred to finished goods. Furthermore, Job has been delivered to the customer. The Cost of Goods Manufactured for May is: * ,

Neem Company uses a job-order cost system. The following information was recorded for May (SEE PICTURE BELOW): Direct labor rate is set at P10 per hour. Applied overhead is computed at the rate of P5 per direct labor-hour. Jobs 1, 2, and 3 have been transferred to finished goods. Furthermore, Job has been delivered to the customer. The Cost of Goods Manufactured for May is: * ,

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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QUESTION 41

Cost Accounting
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Neem Company uses a job-order cost system. The following information was recorded for May (SEE PICTURE BELOW): Direct labor rate is set at P10 per hour. Applied overhead is computed at the rate of P5 per direct labor-hour. Jobs 1, 2, and 3 have been transferred to finished goods. Furthermore, Job 2 has been delivered to the customer. The Cost of Goods Manufactured for May is: * Costs Added During May Мау 1 Inventory P1,000 1,400 500 750 Direct Materials Р 300 Direct Job Number Labor P200 1 2 250 300 1,500 4,000 150 400 4 O a. P10,750. O b. P11,275. O C. P5,925. O d. P7,625.
Transcribed Image Text:Neem Company uses a job-order cost system. The following information was recorded for May (SEE PICTURE BELOW): Direct labor rate is set at P10 per hour. Applied overhead is computed at the rate of P5 per direct labor-hour. Jobs 1, 2, and 3 have been transferred to finished goods. Furthermore, Job 2 has been delivered to the customer. The Cost of Goods Manufactured for May is: * Costs Added During May Мау 1 Inventory P1,000 1,400 500 750 Direct Materials Р 300 Direct Job Number Labor P200 1 2 250 300 1,500 4,000 150 400 4 O a. P10,750. O b. P11,275. O C. P5,925. O d. P7,625.
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