Webb Company uses a job-order costing system and the following information is available from its records. The company has three jobs in process: #6, #9, and #13. Raw materials used P400,000; Direct labor per hour, P68.50; Overhead applied based on direct labor cost, 120%. Direct material was requisitioned as follows for jobs #6, #9 and #13, 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 is P233,000. Other actual overhead costs totaled P536,000 If Jobs #6 and #9 were completed and transferred, what is the balance in Work in Process Inventory at the end of the period? *
Webb Company uses a job-order costing system and the following information is available from its records. The company has three jobs in process: #6, #9, and #13. Raw materials used P400,000; Direct labor per hour, P68.50; Overhead applied based on direct labor cost, 120%. Direct material was requisitioned as follows for jobs #6, #9 and #13, 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 is P233,000. Other actual overhead costs totaled P536,000 If Jobs #6 and #9 were completed and transferred, what is the balance in Work in Process Inventory at the end of the period? *
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter2: Job Order Costing
Section: Chapter Questions
Problem 1PA: Barnes Company uses a job order cost system. The following data summarize the operations related to...
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