Solutions only thank you. 122123124JOB121122The factory overhead is applied at a rate of P1.5 per direct labor hour. The actual factory overhead incurred during the month is P20,500. Prepare the Job Order Sheet fothe month of May. Compute for the over or underapplied factory overhead amount.Fill out the Job Order Cost Sheet/Summary of Costs. Indicate the costs below. Use two decimal places.123124SapphireRubyTopazFOH Applied =DMAmount Over or Underapplied =DL9,556.005,572.0010,242.00Is FOH Overapplied or Underapplied? =6,900.008,316.008,456.00FOH3,430.004,839.00TOTAL JOB121123ItemJadeSapphireDuring the month of May the following raw materials and direct labor were used:Job No.Direct Material CostDirect Labor Cost12110,260.001226.900.008,316.008,456.00122124Question 6The A&J Company has the following information regarding their operations for the month of May. The Finished Goods Inventory contain the following:Direct MaterialFactory Overhead10,5002,2104,32017,000123124Job No.121122The factory overhead is applied at a rate of P1.5 per direct labor hour. The actual factory overhead incurred during the month is P20,500. Prepare the Job Order Sheet forthe month of May. Compute for the over or underapplied factory overhead amount.Fill out the Job Order Cost Sheet/Summary of Costs. Indicate the costs below. Use two decimal places.TOTALItemJadeSapphireRubyTopazDMDirect Labor10,2304,8502,530.009,556.005,572.0010,242.00DLDirect Labor HoursFOH2,780.002,927.003,430.004,839.00

The difference between actual and applied overhead cost is termed as overapplied or underapplied.…

Question 6 The A&J Company has the following information regarding their operations for the month of May. The Finished Goods Inventory contain the following: Job No. Direct Material Factory Overhead 2,210 121 10,500 17,000 4,320 Item Direct Labor Jade 10,230 122 Sapphire 4,850 During the month of May the following raw materials and direct labor were used: Job No. Direct Material Cost 121 122 123 124 OB Item Jade Sapphire Ruby Topaz DM 2,530.00 9,556.00 5,572.00 10,242.00 DL The factory overhead is applied at a rate of P1.5 per direct labor hour. The actual factory overhead incurred during the month is P20,500. Prepare the Job Order Shee the month of May. Compute for the over or underapplied factory overhead amount. Fill out the Job Order Cost Sheet/Summary of Costs. Indicate the costs below. Use two decimal places. TOTAL Direct Labor Cost 10,260.00 6,900.00 8,316.00 8,456.00 FOH Direct Labor Hours 2,780.00 2,927.00 3,430.00 4,839.00

Question 6 The A&J Company has the following information regarding their operations for the month of May. The Finished Goods Inventory contain the following: Job No. Direct Material Factory Overhead 2,210 121 10,500 17,000 4,320 Item Direct Labor Jade 10,230 122 Sapphire 4,850 During the month of May the following raw materials and direct labor were used: Job No. Direct Material Cost 121 122 123 124 OB Item Jade Sapphire Ruby Topaz DM 2,530.00 9,556.00 5,572.00 10,242.00 DL The factory overhead is applied at a rate of P1.5 per direct labor hour. The actual factory overhead incurred during the month is P20,500. Prepare the Job Order Shee the month of May. Compute for the over or underapplied factory overhead amount. Fill out the Job Order Cost Sheet/Summary of Costs. Indicate the costs below. Use two decimal places. TOTAL Direct Labor Cost 10,260.00 6,900.00 8,316.00 8,456.00 FOH Direct Labor Hours 2,780.00 2,927.00 3,430.00 4,839.00

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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