The next two questions are based on the problem below. Question 1: How much is the cost of goods manufactured during the current month? Kai Company uses a plantwide rate based on budgeted DL cost to apply its overhead. Budgeted overhead cost for the month amounted to P420,000 and expected DL cost is P300,000. During the current month, the company worked on 4 jobs: Job 68 Job 69 Job 70 Job 71 Beginning WIP Direct materials used Direct labor cost PO P34,500 26,000 10,000 P23,700 13,700 18,500 P15,000 8,350 3,000 11,000 2,900 During the month, Jobs 68 and 69 were completed, but only job 69 was sold. There was no beginning finished goods inventory at the start of the current month. a. 84,500 O b. 126,500 O c. 166,300 O d. 303,360 Touch here to ec

The next two questions are based on the problem below. Question 1: How much is the cost of goods manufactured during the current month? Kai Company uses a plantwide rate based on budgeted DL cost to apply its overhead. Budgeted overhead cost for the month amounted to P420,000 and expected DL cost is P300,000. During the current month, the company worked on 4 jobs: Job 68 Job 69 Job 70 Job 71 Beginning WIP Direct materials used Direct labor cost PO P34,500 26,000 10,000 P23,700 13,700 18,500 P15,000 8,350 3,000 11,000 2,900 During the month, Jobs 68 and 69 were completed, but only job 69 was sold. There was no beginning finished goods inventory at the start of the current month. a. 84,500 O b. 126,500 O c. 166,300 O d. 303,360 Touch here to ec

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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