Question
Kookie Products Co. started operating in April 1, 2022. They manufacture their products on a job-order basis. During the month of April, three jobs were
Kookie Products Co. started operating in April 1, 2022. They manufacture their products on a job-order basis. During the month of April, three jobs were started in process, Jobs 1, 2, and 3. Jobs 1 and 2 were completed and sold during the month. Job 3 was still in process at the end of the month. The following data came from the job cost sheets for each job. Job 1 Job 2 Job 3 Direct materials P5,000 P6,000 P3,500 Direct labor 4,000 5,000 2,500 Factory overhead 2,000 2,500 1,250 Additional information: Indirect materials used P1,200 Indirect labor were incurred 900 Other indirect costs incurred 3,400 Raw material purchases 17,500 Mark-up on cost 50% Required: Determine the amount of the follow
Cost of materials issued to production for the month.
ACTUAL cost of goods sold. *
Factory overhead applied to production.
Total manufacturing cost.
Materials inventory, end.
Cost of goods manufactured
The un-applied overhead. (Special instruction for this item only: the answer must include the amount and the direction - over or under. Sample: 1,000 over or 1,000 under *
NORMAL cost of goods sold *
Total sales
Work in process, end.
Gross profit
Direct labor cost incurred for the month.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started