Job Order Costing

The following information is available for March Accounts payable, March 1 6.000 Finished goods, March 31 60,000 Work in process, March 1 30,000 Actual factory overhead 150.000 Finished goods, March 1 50,000 costs of goods sold 300,000 Materials, March 31 15,000 Accounts payable, March 31 10,000 Payment of accounts payable this account is used for materials only) 35,000 Factory overhead is applied at 200% of direct labor cost. Jobs still in process on March 31 have been charged P6,000 for materials and P12,000 for direct labor (1.500 hours) Actual direct labor hours, 10,000 at P8 per hour. Required: (1) Materials purchased (5) Materials used (2) Cost of goods manufactured (6) Materials, March 1. (2) Applied factory overhead 671 Over or underapplied FOH (4Work in process, March 31 III Case B Net purchases Work in process inventory, Jan. 1 Work in process inventory, Dec. 31 Raw materials used (60% of mfg.costs) Raw materials inventory, Jan. 1 Raw materials inventory, Dec. 31 Cost of goods manufactured Labor cost Factory overhead ? 46,500 ? 22.500 27.000 219.000 52.500 37.500