Job in Process, January 1, 2020: Direct Materials Labor Factory Overhead Job No. 101 Job No. 102 Job No. 103 40,000 30,000 60,000 40,000 30,000 20,000 000 Costs added during 2020: Materials 20,000 10,000 100,000 Labor 100,000 200,000 400,000 Factory Overhead ? ? ? Additional information: 1. Actual overhead for the year 2020 amounted to P350,000. 2. Jobs No. 101 and 102 were completed and transferred to finished goods during year 2020. 3. Job No. 101 was sold during year 2020. 4. The gross profit rate is 20% based on cost. Required: 1. What is the total manufacturing cost for 2020? 2. What is the cost of goods manufactured for 2020? 3. What is the cost of goods sold for 2020? 4. What is the gross profit for 2020? 5. What are the cost of work in process on December 31, 2020 6. What is the cost of finished goods on December 31, 2020? Your answer