A.Josiah Inc. has provided the following information for 20x5:

a. Purchased raw materials on account for P120,000.

b. Issued P115,000 in raw materials to production (P22,000 were not traceable to specific jobs).

c. Incurred P115,000 in direct labor costs (14,375 hours) and P62,500 in supervision costs (paid in cash).

d. Incurred the following additional manufacturing overhead costs: factory lease P24,000 (paid in cash); depreciation on equipment P20,000; custodial supplies P7,500 (paid in cash).

e. Incurred the following nonmanufacturing costs, both paid in cash: advertising P75,000; sales commissions P88,000.

f. Applied manufacturing overhead to jobs in process at a rate of P10 per direct labor hour.

g. Completed jobs costing a total of P345,000.

h. Sold jobs for P425,000 on account. The cost of the jobs was P342,000.

i. Closed the Manufacturing Overhead account balance.

Compute for the following:

1.What is the Ending Balance of the Work In Process? ___________

2.What are the Total Manufacturing Costs? __________

3.What is the Cost of Goods Sold? (after adjustment of over/under applied Factory Overhead, assumed to be immaterial) __________

4.What is the over/underapplied Factory Overhead? (indicate whether over or underapplied) _________

5.What is the Gross Profit? __________

B.The following were from the books of Sun Company for March 2015:

InventoriesMarch 1, 2015 March 31, 2015

Raw MaterialsP? P20,000

Work in process90,000100,000

Finished Goods 120,000 180,000

Raw materials purchased100,000

Factory overhead, 75% of direct labor cost 126,000

Selling and Administrative expense, 10% of sales50,000

Net income for March, 2015 50,000

Required:

6.Cost of goods sold for March __________

7.Cost of goods manufactured for March __________

8.inventory of raw materials as of March 1. __________

C.Beach Inc. had produced 10,000 units of corral necklaces during the year.To produce the 10,000 units, the following costs were incurred during the year:

Factory rent120,000Direct materials 60,000

Direct labor80,000Indirect materials 10,000

Indirect labor 65,000Depreciation expense 20,000

Utilities12,000 Repairs 40,000

(60% is variable) (30% is fixed)

Other factory Electricity 70,000

overhead8,000 (80% is variable)

(100% variable)

Required: Solve for the following

9.Variable cost per unit __________

10.Fixed cost per unit __________

11.Total direct costs __________

12.Total indirect costs __________

13.Total costs to produce 20,000 units __________