{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T09:49:37-04:00", "answer_date": "2024-06-28 09:49:37", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4288658", "url": "\/study-help\/questions\/macopa-corporation-manufactures-rattan-furniture-sets-for-export-and-uses-4288658", "question_creation_date_js": "2024-06-28T09:49:37-04:00", "question_creation_date": "Jun 28, 2024 09:49 AM", "meta_title": "[Solved] Macopa Corporation manufactures rattan fu | SolutionInn", "meta_description": "Answer of - Macopa Corporation manufactures rattan furniture sets for export and uses the job order cost system in accounting for | SolutionInn", "meta_keywords": "macopa,corporation,manufactures,rattan,furniture,sets,export,job,order,cost,system,accounting", "question_title_h1": "Macopa Corporation manufactures rattan furniture sets for export and uses the job order cost system in accounting for its costs. You obtained the corporation's books", "question_title": "Macopa Corporation manufactures rattan furniture sets for export and uses the job", "question_title_for_js_snippet": "Macopa Corporation manufactures rattan furniture sets for export and uses the job order cost system in accounting for its costs You obtained the corporation's books and records the following information for the year ended December 2019 The work in process inventory on January 1 was 20 less than the work in process inventory on December 31 The total manufacturing costs added during 2019 was P900,000 based on actual direct materials and direct labor but with manufacturing overhead applied on actual direct labor pesos The manufacturing overhead applied to process was 72 of the direct labor pesos and it was equal to 25 of the total manufacturing costs The costs of goods manufactured, also based on actual direct materials, actual labor and applied manufacturing overhead was P850,000 The cost of direct materials used for the year 2019 amounted to Using the same information in the preceding number, the cost of Work in Process inventory on December 31, 2014", "question_description": "

Macopa Corporation manufactures rattan furniture sets for export and uses the job order cost system in accounting for its costs. You obtained the corporation's books and records the following information for the year ended December 2019: <\/p>

The work in process inventory on January 1 was 20% less than the work in process inventory on December 31. <\/p>

The total manufacturing costs added during 2019 was P900,000 based on actual direct materials and direct labor but with manufacturing overhead applied on actual direct labor pesos. <\/p>

The manufacturing overhead applied to process was 72% of the direct labor pesos and it was equal to 25% of the total manufacturing costs. <\/p>

The costs of goods manufactured, also based on actual direct materials, actual labor and applied manufacturing overhead was P850,000.<\/p>

<\/p>

  1. The cost of direct materials used for the year 2019 amounted to?<\/li>
  2. Using the same information in the preceding number, the cost of Work in Process inventory on December 31, 2014<\/li> <\/ol>", "transcribed_text": "", "related_book": { "title": "Principles Of Accounting Volume 2 Managerial Accounting", "isbn": "0357364805, 9780357364802", "edition": "1st Edition", "authors": "OpenStax", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/2022\/04\/626124ab6f7b1_547626124ab246f0.jpg", "uri": "\/textbooks\/principles-of-accounting-volume-2-managerial-accounting-1st-edition-9780357364802", "see_more_uri": "" }, "free_related_book": { "isbn": "B0B45DXJ9Q", "uri": "\/textbooks\/deez-nfts-1st-edition-979-8837479533-312406", "name": "Deez Nfts", "edition": "1st Edition" }, "question_posted": "2024-06-28 09:49:37", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-13", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/multiple-choice-questions-1-an-insurance-company-offers-doctors-malpractice", "description": "Multiple Choice Questions 1. 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