SECTION 3 - SOORB Encircle your final answer and show supporting computation, af necessary. XYZ Manufacturing Company uses job order cost system The company purchased direct materials, 15,000 units at P11.20 per urut The inventories at the beginning of the period are as follows: Inventories: Job No. Amount Finished Goods A P96,000 Work in process B 11,200 Direct materials 36,000 During the period, Manufacturing overhead costs of P140 per direct labor hour was applied to the job while actual manufacturing costs incurred amounted to P141,200. At the end of the period, Job Orders D and G are still in process. While Job Orders B and F were left unsold. The company maintains a gross profit rate of 40%. Job No. DM cots DL Cost DL hours B P32,800 24,000 50 ic 73,200 72,000 150 D 89,200 168,000 350 E 27,200 96,000 200 F 51,600 120,000 250 G 21600, 38400 80 1. The under or (over applied) overhead is: a. 10,000 c. P39,000 b. (P10,000) d. (P39,000) 2. The total sales amounted to: a. P689,000 b. P578,760 4. bgatony Rosal Compai com ny uses a job order costin; ae pan: tobe i ig System. At the beginni: uly, the 'y had 2 jobs in process with the following costs: ginning of July,Manufacturing — OH P255 p8.50 per hour and applies overhead ona direct labor basis, ysits workers posal PM ‘The overhead charged to Job G-102 at the beginning of the period is: Uh piss 50 c. P2,200.00 p. P153.00 d. P2,456.00 processing of Santan Company's manufacturing passes through two i rtments, Department 1 and Department 2. Overhead is applied to the jobs in t 1 based on. 150% of direct labor cost and P18 per machine time in Department a a 7 Department 2, The following information is available for Job H-200. Department 1_| Department 2 Direct materials P1590 P580 Direct labor costs i 48 Direct labor hours 22 6 Machine time 5 15 Manufacturing overhead applied 429 ? 2. The total cost of job H-200 is: a. P2,647 c. P3,093 b. P3,005 d. P3,203 Orchid Company uses a job order costing system and the following information is available from its records. The company has 3 jobs in process, A-101, B-101, C-101. Raw materials used P120,000 Direct labor per hour P8.50 Manufacturing overhead is applied at 120% of direct labor cost. The prime costs were distributed as follows: A-101 | B-101 C-101 Factory OH. Haw Mat 30% 75% 75% | Balance hours 2,500 3,100 4,200 4 Indirect 33,000 labor Other OH 36,000 Job C-101 is completed and delivered to the customer.3. The total amount of overhead applied to job B-101 is: c 30,000 . P18,250 Bi P26,350 d. P31,620 4. The total factory costs for the period amounted to: a. P82,750 c. P89.970 b. P108,500 d. P279,260 During July, Litton Company worked on two jobs. Data relating to these two jobs follow: Job 98 [Job 99 Units in each order 120 200 Units sold 100 150 Materials requisitioned 37,200 35,200 DL hours 360 400 DL costs P14,400 P17,500 Overhead is assigned on the jobs at a rate of P30 per DL hr. Jobs 98 é& 99 were completed and sold at 20% gross profit rate. 5. The cost of goods manufactured is a. P62,400 c. P104,300 b. 64,700 d. P127,100 6. The gross profit per unit of product Job 98 is a P104 c. P10,400 b. P1i30 d. P13,000 The fiscal year of Diamond Corporation ends on November 30. The following accounts are found in its job order cost accounting system for the first month o! new fiscal year with incomplete postings: Raw Materials Inventory: Purchases P172,250 Requisitions 148,500 Ending balance 79,750 Work in process inventory: Direct Jabor incurred 81,000 Factory labor: Total factory wages 106,000 Manufacturing overhead: Indirect materials 19,000Other data: : Sa oatbing te two jobs were in process: Job AAA and Job BBB. These jobs P120,000. Ov direct material costs of P97,300 and direct labor costs © ,000. Overhead was applied at a rate that was 75% of direct labor cost ber 31, 2. During December, Jobs CCC, DDD and EEE were started. On Decembet =» terial Job No. EEF was unfinish i 7 i ed. This job had charges for direct mal amounting to P38,000, direct labor of P44,000 plus manufacturing overhead. All jobs, except Job EEE was completed in December. 3. peers 1, Job No. Z2Z. was in the finished goods warchouse. It had @ total cost of P50,000. On December 31, Job. DDD was the only job finished that was not sold. It had a cost of P40,000. 4. Manufacturing overhead was P2,300 overapplied in December. 7. The direct materials issued to production was a. P56,000 ce. P148,500 b. P129,500 d. P172,250 8. The cost of jobs completed was a. P156,250 c, 463,750 b. P307,500 d. 578,750 During June, Nanny Company worked on two jobs. Data relating to these two jobs follows: Job 100 Job 200 Units ordered 1,200 2,000 ee prado| 600 Materials used neu a0 DL hours a sa DL rate per hour i i basis of direct labor hours at a rate of P37.50. During Overheads applied “ aod & delivered toa customer at 25% gross margin rate.. June, Job 100 was com| plete Job 200 was the only unfinis! 9. The gross margin. for the month is aims a. 62,610 ea b. 83,840 jned job at the end of the month.The following data are available for S&R company for its first month 9 Operations; Job 101 Job 102 Job 193 Direct materials 60,000 P90,000P56,099 Direct labor @P40/hr 18,000 36,000 38,000 2 per direct labor hour. Job Nos. 101 and 19) were completed. Job No. 101 was sold, and Job No. 103 remained incomplete at the end of the month. $ & R Company incurred the following costs for the month, Direct materials purchases, P300,000; Direct and indirect labor costs, P96,000; Actual Factory overhead excluding indirect labor and indirect materials, P64,499, Overhead is applied at the rate of P3: indirect materials, P4,000 10. The balance of the work in process at the end of the month is: a. P154,800 c. P162,000 b. P124,400 d. P179,200 11. Assuming the overhead variance is immaterial, the adjusted cost of goods sold is; a. P86,800 c. P94,000 b. P90,800 d. P98,000 Adams Co. uses a job order costing system and the following information is available from its records. The company has 3 jobs in process: #5, #8, and #12 Raw materials used P120,000 Direct labor per hour P8.50 Overhead applied on direct labor cost. 120% Direct materials were tequisitioned as follows for each job respectively: 30 percent 25 percent, and 25 percent; the balance of the requisitions was considered indirect. Direct labor hours per job are 2,500, 3,100, and 4,200; respectively. Indirect labor cost is P33,000, Other actual overhead costs totaled P36,000. 12. The total applied overhead for the period is a. P69,000 c. P132,960 b. P99,960 d. P144,000 13. If Job #12 is completed and transferred to Finished Goods, what is the balance Y Work in process inventory at the end of the period ? : e ea ce. P139,540 . , d. P170,720