For Cost Accounting:

1. 

Plato Company is to submit a bid on the production of 22,500 ceramic plates. It is estimated that the cost of materials 1will be P25,000 and the cost of direct labor will be P30,000. Facton overhead is applied at P230 per direct labor hour in the Molding Department and at 35% of the direct labor cost in the Decorating Department. It is estimated that 2,000 direct labor hours, at a. cost of P13,000 will he required in the Molding Department. The company wants a markup of 45% of its total production cost. How much will the company bid for the ceramic plates? Lockout Company revealed the following inventory transactions: Jan. 1 Beginning balance, 16,000 units @ P140 5 Purchased 4,000 units @ P150 10 Issued 15,000 units to production 15 Purchased 20,000 units @ P160 16 Returned 1,000 units to supplier from January 15 purchase 25 Issued 8,000 units to production 26 Production returned 4,000 units to Storeroom from the January 25 issue 31 Purchased 30,000 units @ P150 What is the cost of the inventory on January 31 using FIFO method?A job order for 500 units of children's party giveaways were processed with costs of $80,000 and $30,000 for direct materials and direct labor, respectively. Factory overhead was applied at 50% of direct labor cost which excludes a 5% provision for spoilage. Prior to transfer to the storeroom, 25 units were found to be spoiled with an estimated market value of P50 per unit. What is the unit cost of the goods transferred to the storeroom if the loss is charged to total production