What is the answer and solution for the qustions 1,2,3 On December 31, 2016, after closing, the ledgers of Dodol Company contained these accounts and balances:P 93,000P 65.000P 44,000P118,000Details of the three inventories are:Finished Goods Inventory:Accounts Receivable P 105,000 Retained Eamings P74,000Work In ProcessMachineryCommon StockCashFinished GoodsP 15,000P 70,000P 200,000MaterialsAccounts PayableMaterials Inventory:Material X (P5/ unit) P 20,000Material Y P3/ unit) 24,000JOB 101P5,000Item A-2,000 units at P 12.50Irem B- 4,000 units at P 10.00P 25,00040,000Work in Process Inventory:Direct Materials:JOB 1021,000 units at P5.00400 units at P3.00P1,200Direct Labor:1,000 hours at P 4.00400 hours at P 5.004,0002,000800Factory Overhead: Applied at P 2.00/hourDuring January, 2012, these transactions were completed:a. Purchases on account: Material X- 20,000 units at P 5.60; Material Y- 24,000 units at P 3.75; indirectmaterials- P 35,04o.b. Payroll totalings P 220,000 was paid. Of the total payroll P 40,000 was for marketing and administrativesalaries. Payroll deductions consisted of P 31,000 for withholding taxes, P 7,000 for S5S, P 440 for2.000Medicare Contributions, and P6,600 for Pag-ibig Funds.c. Payroll is to be distributed as follows: Job 101- 10,000 direct labor hours at P4.00, Job 102-16,000 directlabor hours at P 5.00, Job 103- 12,000 direct labor hours at P 3.00, indirect labor- P 24,000, Marketingand administrative salaries- P 40,000. Employer's Payroll taxes are: SSS Premium 5%, MedicareContribution 0.2%, and Pag-ibig Funds 3%.d. Materials were issued on a FIFO basis as follows: Material X- 20,000 units ( charged to Job 101). MaterialY- 24,000 units ( charged to Job 102). Material X- 2,000 units and materials Y-5,000 units (charged to Job103). (Note: Transactions are to be taken in consecutive order). Indirect Materials amounted to P 15,040.e. Factory Overhead was applied to Jobs 101, 102 and 103 based on a rate of P2.40 per direct labor hour.f. Jobs 101 and 102 were completed and sold on account for P 240,000 and P 270,000, respectively.5 After allowing a 5% cash discount, a net amount of P 494,000 was collected on accounts receivable.h. Marketing and administrative expenses (other than salaries) paid during the month amounted to P30,000. Miscellaneous factory overhead of P 20,900 was paid. Depreciation for the month P 12,000 (20%pertains to factory machinery).i. Payments on account, other than payroll paid, amounted to P170,000.j. The over or under-applied factory overhead is to be closed.1. Total Manufacturing cost2. COGM3. Over/Under-applied OH4. Cost of goods sold5. Total assets

Total manufacturing costs refers to the costs which is incurred for converting the raw material into…

On December 31, 2016, after closing, the ledgers of Dodol Company contained these accounts and balances: Cash Finished Goods Materials Accounts Payable Details of the three inventories are: Finished Goods Inventory: P 93,000 P 65,000 P 4,000 P118,000 Accounts Receivable P105.000 Retained Eamings P74,000 Work In Process Machinery Common Stock P 15,000 P 70,000 P 200,000 Materials Inventory: Material X (PS/ unit) P 20,000 Material Y (P3/ unit) 24,000 JOB 101 P 5,000 Item A- 2,000 units at P 12.50 Irem B- 4,000 units at P 10.00 P 25,000 40,000 Work in Process Inventory: Direct Materials: JOB 102 1,000 units at P 5.00 400 units at P3.00 1,000 hours at P 4.00 400 hours at P 5.00 P1.200 Direct Labor: 4,000 2,000 800 Factory Overhead: Applied at P 2.00/hour During January, 2012, these transactions were completed: a. Purchases on account: Material X- 20,000 units at P 5.60; Material Y- 24,000 units at P 3.75; indirect materials- P 35,040. b. Payroll totaling P 220,000 was paid. Of the total payroll P 40,000 was for marketing and administrative salaries. Payroll deductions consisted of P 31,000 for withholding taxes, P 7,000 for SSS, P 440 for Medicare Contributions, and P 6,600 for Pag-ibig Funds. 2,000