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Need answers ASAP pls :((( The Kamandag Corporation, began operations on October 1. It employs a job order costing system. Overhead is charged at a
Need answers ASAP pls :(((
The Kamandag Corporation, began operations on October 1. It employs a job order costing system. Overhead is charged at a normal rate of P2,50 per direct labor hour. The actual operations for the month of October are summarized as follows: 1. Purchase of raw material, 25,000 pieces @ P1.20/piece 2. Material and labor costs charged to production: Job No. Units Material Direct labor cost Direct labor hours 001 10,000 P4,000 P6,000 3,000 002 8,800 3,600 5,400 2,700 003 16,000 7,000 9,000 4,500 004 8,000 3,200 4,800 2,400 005 20,000 8,000 3,600 1,800 1. Actual overhead costs inccured during October amounted to P33,500 2. Completed jobs: 001, 002, 003, and 004 3. Sales for a month of October amounted to P105,000. All units produced on Jobs 101, 102, and 103 were sold. What is the balance of the work in process inventory account on October 31 Step by Step Solution
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