1. Prepare the summary journal entries for the month to record the preceding information. 2. Prepare a cost sheet for each job. 3. Prepare statement of cost of goods manufactured and sold

Ellen Joyce Company is engaged in the manufacture of engines which are made only on customers' orders and to their specifications. During January, the company worked on Jobs 201, 202, 203, and 204. The following figures summarize the cost records for the month. Job 201 Job 202 Job 203 Job 204 Direct Materials put into process: Jan. 2. P15,000 P5,000 18 20,000 16,000 P5,000 22 15,000 1,000 10,000 P6,000 28 3,500 2,000 Direct labor costs week ending Jan. 2 1,000 1,000 9 27,000 9.000 16 32,000 27,000 23 20,000 3,000 5,000 1,500 30 18,000 11,500 Factory overhead 60,000 32,000 17,500 9,000 Engines completed 100 60 25 Jobs 201 and 202 have been completed and delivered to the customer at a total selling price of P350,000. Job 204 is still in process. There was no work in process at the beginning of the month. Required: 1. Prepare the summary journal entries for the month to record the preceding information. (Assume a work in process accounts is maintained for each job.) 2. Prepare a cost sheet for each job. 3. Prepare statement of cost of goods manufactured and sold