CORP uses job order costing system and the following information is given. The company has three jobs in process: Job No. 1, Job No. 2 and Job No. 3 Raw materials used 840,000 Direct labor per hour 8.50 FOH applied based on DL cost 120% Direct materials was requisitioned as follows for each Job: 30%, 25% and 25% respectively and the balance is for indirect materials. Direct labor hours per job are 17,500; 21,700 and 29,400, respectively. Indirect labor cost incurred is P231,000. Other actual FOH cost incurred totaled P252,000.

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing t…