1. Handy Crafts manufactures to customers' specifications. The company uses a job order cost system and, for the month of May, 2008, summarized the following information:

Beginning work in process inventory

(Five partial completed jobs).......................P 300,000

Orders completed (eighteen)...............................2,400,000

Order shipped out (fourteen)...............................2,000,000

Materials requisitioned.......................................1,700,000

Direct labor cost............................................... 800,000

Overhead = 150% of direct labor cost.

The month-end work in process inventory was: