A company uses job order costing. At the beginning of February, two jobs were in process: Job 769 Job 772 Materials P4,000 P1,400 Direct Labor 2,000 600 3,000 There was no inventory of finished goods on February 1. During the month, Jobs 773, 774, 776, 778 and 779 were started Applied Factory Overhead 900 Materials requisitions for February totaled P26,000, direct labor cost, P20,000 and actual factory overhead, P32,000 Factory overhead is applied at a rate of 150% of direct labor cost. The only job still in process at the end of February is job 779, with a materials cost of P2,800 and direct labor cost of P1,800. Job 776, the only finished job on hand at the end of the month, has a total cost of P4,000.

Which factors contribute to the cost of direct labor?

How are costs assumed to flow through the manufacturing process?

What kind of cost are considered Manufacturing Overhead Cost?

what is the weighted average cost per unit

How do you calculate costs of goods sold?

When trying to identify product and period costs, is cash, work inprocess, and raw materials inventory considered to be period or product costs?

How is the cost per equivalent unit of production calculated?

Compute cost of goods manufactured.

What is the relationship between labor costs and profit per unit?