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.

Q: What is equivalent production? Explain in terms of its effect on computed unit costs.

A: Process costing: It is a type of costing method, where the direct costs are accumulated and indirect…

Q: a prod

A: Standard costs are the anticipated costs of manufacturing the product. Standard Direct Materials…

Q: What are life-cycle costs? How do these costs relate to the production life cycle?

A: Life cycle cost is the summation of all costs related to a product, structure, system, or service…

Q: What are the three categories of manufacturing costs?

A: Manufacturing costs are the costs of materials plus cost to convert the material into products. All…

Q: Which of the following cost is included in cost of goods sold? customer service cost manufacturing…

A: In layman's language, the Cost of goods sold is nothing but the total cost incurred to produce a…

Q: How does a service company calculate unit cost per service?

A: Unit service cost refers to the cost that is incurred for providing the service. It is a concept…

Q: How do you calculate Cost of goods purchased

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Q: How is the cost of goods manufactured calculated?

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Q: What are the three types of manufacturing cost?

A: Manufacturing cost: Manufacturing cost is the sum total of various costs used or incurred in the…

Q: What are the cost associated with production? (COSTING METHOD)

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Q: What is the link that connects the schedule of cost of goods manufactured to the schedule of cost of…

A: Schedule of Cost of goods manufactured:   Cost of goods manufactured can be defined as the total…

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A: Unit cost is the cost of producing per unit. Unit cost includes both variable and fixed cost that…

Q: Why is it that product costs are distinguished from period costs?

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Q: What are the differences between a product cost and a period cost

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Q: Is (freight-in, materials) included in the cost of goods manufactured statement

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Q: What is the Cost Flows in a Manufacturing Company?

A: Cost flows allude to the way or course through which costs go through business.

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Q: Define how costs of goods and other costs such as taxes contribute to the performance besides sales?

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Q: How to calculate manufacturing costs

A: How to calculate manufacturing costs.

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Q: Why cant prime cost be added to conversion cost to get total product cost?

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