Problem 4Marvin Inc. produces special machines made to customer's specifications. Thefollowing data pertain to Job 109 composed of 20 drilling units with a total contractprice of P 25,000.Week endingApril 8P 2,400P 8.20/hourWeek endingApril 15P 1,300P 8.20/hourMaterials Department 1Direct labor rate - Dept. 1Labor hours used - Dept. IDirect labor rate -Labor hours used - Dept. 2Machine hours used - Dept. 2Applied factory overheadDepartment 1Department 2300200- Dept. 2P 8.00/hourP 8.00/hour15070200120P 4.00 per labor hourP 1.00 per machine hourMarketing and administrative costs are charged to each order at a rate of 25% of thecost to manufacture.Requirements:1. Compute the total direct materials cost of Job 109.2. Compute the total direct labor cost of the Job 109.3. Compute the total factory overhead applied to Job 109.4. Compute the total gross profit of the order.5. Compute the net income of the order.

Name: Problem 4Marvin Inc. produces special machines made to customer's spe
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Description: Problem 4Marvin Inc. produces special machines made to customer's specifications. Thefollowing data pertain to Job 109 composed of 20 drilling units with a total contractprice of P 25,000.Week endingApril 8P 2,400P 8.20/hourWeek endingApril 15P 1,30

Computation of total direct materials cost,total direct labour cost, total factory overhead, total…

Business

Accounting

price of P 25,000. Week ending April 8 P 2,400 P 8.20/hour Week ending April 15 P 1,300 P 8.20/hour Materials Department 1 Direct labor rate - Dept. 1 Labor hours used - Dept. I Direct labor rate - Dept. 2 Labor hours used - Dept. 2 Machine hours used - Dept. 2 Applied factory overhead Department 1 Department 2 300 200 P 8.00/hour P 8.00/hour 150 70 200 120 P 4.00 per labor hour P 1.00 per machine hour Marketing and administrative costs are charged to each order at a rate of 25% of the cost to manufacture. Requirements: 1. Compute the total direct materials cost of Job 109. 2. Compute the total direct labor cost of the Job 109. 3. Compute the total factory overhead applied to Job 109. 4. Compute the total gross profit of the order. 5. Compute the net income of the order.

price of P 25,000. Week ending April 8 P 2,400 P 8.20/hour Week ending April 15 P 1,300 P 8.20/hour Materials Department 1 Direct labor rate - Dept. 1 Labor hours used - Dept. I Direct labor rate - Dept. 2 Labor hours used - Dept. 2 Machine hours used - Dept. 2 Applied factory overhead Department 1 Department 2 300 200 P 8.00/hour P 8.00/hour 150 70 200 120 P 4.00 per labor hour P 1.00 per machine hour Marketing and administrative costs are charged to each order at a rate of 25% of the cost to manufacture. Requirements: 1. Compute the total direct materials cost of Job 109. 2. Compute the total direct labor cost of the Job 109. 3. Compute the total factory overhead applied to Job 109. 4. Compute the total gross profit of the order. 5. Compute the net income of the order.

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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