Reference no: EM132747055
A company uses job order costing system and the following information is available from its records. The company has three jobs in process: #6, #9, and #13. Data are as follows:
Raw materials used P120,000;
Direct labor per hour P8.50;
Overhead applied based on direct labor cost 120%.
Direct materials was requisitioned as follows for each job respectively: 30%, 25%, and 25%;
the balance of the requisitions was considered indirect.
Problem 1: Direct labor hours per job are 2,500; 3,100; and 4,200 respectively. Indirect labor is P33,000. Other actual overhead costs totalled P36,000. Assume the balance in work in process was P18,500 on June 1 and P25,297 on june 30. The balance on June 30 represents one job that contains direct material of P11,250. How much is the cost of goods manufactured?
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