SILVA Company had only one job in process on May 1. The job had been charged with $1,400 of direct materials, P6,192 of direct labor, and P5,712 of manufacturing overhead (MOH) cost. The company assigns overhead costs to jobs using the predetermined overhead rate of $11.90 per direct labor hour. During May, the following activity was recorded: Raw materials (all direct materials) Beginning balance Purchased in the month Used in production Labor during the month DL hours worked DL costs incurred Actual MOH cost incurred Inventories: Raw materials, May 30 Work in process, May 30 P 8,500 48,000 51,800 1,900 P24,510 P 21,000 ? P 19,536 Work in process inventory on May 30 contains 4,773 of direct labor cost. Raw materials consist solely of items that are classified as direct materials. The work-in process for the period was P

SILVA Company had only one job in process on May 1. The job had been charged with $1,400 of direct materials, P6,192 of direct labor, and P5,712 of manufacturing overhead (MOH) cost. The company assigns overhead costs to jobs using the predetermined overhead rate of $11.90 per direct labor hour. During May, the following activity was recorded: Raw materials (all direct materials) Beginning balance Purchased in the month Used in production Labor during the month DL hours worked DL costs incurred Actual MOH cost incurred Inventories: Raw materials, May 30 Work in process, May 30 P 8,500 48,000 51,800 1,900 P24,510 P 21,000 ? P 19,536 Work in process inventory on May 30 contains 4,773 of direct labor cost. Raw materials consist solely of items that are classified as direct materials. The work-in process for the period was P

Name: SILVA Company had only one job in process on May 1. The job had been
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Description: SILVA Company had only one job in process on May 1. The job had been charged with $1,400 of direct materials,P6,192 of direct labor, and P5,712 of manufacturing overhead (MOH) cost. The company assigns overhead costs tojobs using the predetermined o

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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