PAMELA Manufacturing Company uses a job order cost system. The following debits (credits) appeared in Work in Process for the month of August: August 1 P40,500 Charges during August: Direct materials 243,000 Direct labor 162,000 Factory overhead 129,600 Debits to Finished goods 486,000 PAMELA Manufacturing applies overhead to production at a predetermined rate of 80% of direct labor cost Job XXX, which was started during August and is the only job still in process at the end of August, has been charged direct labor of P20,250. The amount of direct materials charged to Job XXX is

PAMELA Manufacturing Company uses a job order cost system. The following debits (credits) appeared in Work in Process for the month of August: August 1 P40,500 Charges during August: Direct materials 243,000 Direct labor 162,000 Factory overhead 129,600 Debits to Finished goods 486,000 PAMELA Manufacturing applies overhead to production at a predetermined rate of 80% of direct labor cost Job XXX, which was started during August and is the only job still in process at the end of August, has been charged direct labor of P20,250. The amount of direct materials charged to Job XXX is

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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Which of the following journal entries is used to record fixed overhead costs allocated? O Fixed Overhead Allocated Work-in-Process Control Fixed Overhead Control Work-in-Process Control O Fixed Overhead Allocated Fixed Overhead Control O Work-in-Process Control Fixed Overhead Allocated
Process cost systems use job cost sheets. Select one: O a. FALSE O b. TRUE
Total manufacturing cost in a job-sheet for job-order costing, includes: a. Actual direct materials costs b. None of the given costs in the answers. С. Actual direct labor costs d. All of the given costs in the answers. e. Applied manufacturing overhead costs
Indirect material used in production is classified as __________. administration overhead selling overhead distribution overhead production overhead
Dengo Company makes a trail mix in two departments: Roasting and Blending. Direct materials are added at the beginning of each process, and conversion costs are added evenly throughout each process. The company uses the FIFO method of process costing. October data for the Roasting department follow. Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Beginning work in process inventory Costs added this period Direct materials. Conversion Total costs to account for Units 4,400 20, 600 25,000 3,800 $314, 760 1,374,948 Direct Materials Conversion Percent Percent Complete Complete 100% 30% 100% $ 124,790 1,689, 708 $ 1,814, 498 70%
Total manufacturing costs for a period consist of the cost of direct materials used, the cost of direct labour incurred, and the actual manufacturing overhead cost incurred during the period. True O False
Question 18?
The following is part of Production Overheads a. Office Salary b. Depreciation of Office AC c. Depreciation of Machine d. Salesman Salary
11 How much manufacturing overhead was applied from the Fabrication Department to Job Pand how much was applied to Job Q?
Which of the following journal entries would be used to record direct labor c cost in a company having two processing departments ( department a and department b)
Which of the following is the correct formula to compute the predetermined overhead rate? a. Estimated total manufacturing overhead costs divided by actual total units in the allocation base. b. Estimated total manufacturing overhead costs divided by estimated total units in the allocation base. C. Actual total manufacturing overhead costs divided by estimated total units in the allocation base. O d. Estimated total units in the allocation base divided by estimated total manufacturing overhead costs.
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