Cost order costing

4.5G 2.00 9:12 KB/S Upcoming Upcoming Instructions Answer the following requirements. Send pictures of your computation. Assume the following relates to the Candy Corporation for the month of July. job No. 101 job no. 103 job no. 102 In process July 1 Materials P30,000 Labor 40,000 Overhead 50,000 Cost added in July Materials 55,000 Labor 95,000 P40,000 60,000 75,000 80,000 92,000 80,000 115,000 Actual overhead incurred in July amounted to P375,000. Job no. 101 nd 102 were completed and transferred to finished goods warehouse in July. Overhead is applied using a predetermined overhead rate. Job 101 was sold for P550,000. Requirements: Compute for the following- 1. Work in Process, July 1 2. Overhead assigned to production in July assuming same factory OH rate 3. Cost of goods manufactured 4. Cost of goods sold (actual) 5. Finished goods inventory, July 31 6. Work in process inventory, July 31 44