Lucy Sportswear manufactures a specialty line of T-shirts. The company uses a job-order costing system. During  March, the following costs were incurred on Job ICU2: direct materials P13,700 and direct labor P4,800. In  addition, selling and shipping costs of P7,000 were incurred on the job. Manufacturing overhead was applied a the  rate of P25 per machine-hour and Job ICU2 required 800 machine-hours.  15. If Job ICU2 consisted of 7,000 shirts, the Cost of Goods Sold per shirt was:  a. P6.50 c. P5.70 b. P6.00 d. P5.50

Townsend Industries Inc. manufactures recreational vehicles. Townsend uses a job order cost system. The time tickets from November jobs are summarized as follows: Job 201 $2,270 Job 202 1,140 Job 203 900 Job 204 1,670 Factory supervision 780 Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $28 per direct labor hour. The direct labor rate is $13 per hour. If required, round final answers to the nearest dollar. a. Journalize the entry to record the factory labor costs. If an amount box does not require an entry, leave it blank. Work in Process Factory Overhead Wages Payable v Feedback b. Journalize the entry to apply factory overhead to production for November. If an amount box does not require an entry, leave it blank. Work in Process Factory Overhead

Echenko Corporation uses a job-order costing system and applies overhead to jobs using a predetermined overhead rate. During the year the company's Finished Goods inventory account was debited for $380,000 and credited for $335,500. The ending balance in the Finished Goods inventory account was $62,300. At the end of the year, manufacturing overhead was overapplied by $2,900. The balance in the Finished Goods inventory account at the beginning of the year was?

Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track the cost of each customer order. On March 1, OCFF had two jobs in process with the following costs: Work in Process Job 33 Job 34 Source documents revealed the following during March: Materials Requisitions Forms $3,000 2,500 5,000 1,000 $ 11,500 Job 33 Job 34 Job 35 Indirect Balance on 3/1 $ 5,400 3,900 $ 9,300 Labor Time Tickets $ 5,500 3,100 2,600 2,000 $ 13,200 The company applies overhead to products at a rate of 65 percent of direct labor cost. Status of Job at Month-End Completed and sold Completed, but not sold In process Required: 1. Compute the cost of Jobs 33, 34, and 35 at the end of the month. 2. Calculate the balance in the Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts at month-end. Required 1 Required 2 Complete this question by entering your answers in the tabs below. Job 33 Job 34 Job 35 Compute the cost of Jobs 33, 34, and 35 at…