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Please answer a,b,c,d based on the following given Read the given problem carefully, then answer the succeeding questions. The following information regarding the operations for
Please answer a,b,c,d based on the following given Read the given problem carefully, then answer the succeeding questions. The following information regarding the operations for March of the Goodfield Products Company are available: (all monetary values are in Php) The book show these account balances as of March 1: Raw materials and supplies P65,000 Work in process 292,621 Finished goods 78,830 The work in process account is supported by these job order cost sheets: Job. No. Item Direct Materials Direct Labor Factory Overhead 204 80,000 balloons P 15,230 P 21,430 P 13,800 205 5,000 life rafts 40,450 55,240 22,370 206 10,000 life belts 60,875 43,860 19.366 206 10,000 life belts 60,875 43,860 19,366 Total P116,555 P120,530 P 55,536 During March, these transactions occurred: (a) Purchase of raw materials and supplies, P42,300. (b) Purchase of special materials for new Job No. 207, P5,800. (c) Job No. 207 calls for 4,000 life jackets. (d) Payroll data for March: Job No. Amount Hours 204 P 13,422 6,711 205 14,630 6,500 206 14,075 7,230 207 12.948 5.820 207 12,948 5,820 Indirect labor cost, P9,480. Factory superintendence, P1,500. (e) Raw materials issued: Job No. 204 P 9,480 205 11,320 206 10,490 207 16,640 Excluding special mat'l purchases of P5,800 of which P4,100 was consumed (f) Indirect materials (supplies) used, P1,910. (g) Ending inventory of indirect materials/supplies, March 31, P2,000. (h) Other factory overhead incurred: Insurance on factory P 830 Depreciation ---machinery 4,780 Depreciation --factory building 2,840 Light 1,260 Power 3,390 Repairs & maintenance 2,240 Others 1,910 (1) Factory overhead is applied at the rate of P1.15 per direct labor hour for March. (j) Shipped and billed Job. No. 204 at a contract price of P97,500. (k) Job. No. 206 unfinished as of March 31, others are completed. Repairs & maintenance 2,240 Others 1,910 (i) Factory overhead is applied at the rate of P1.15 per direct labor hour for March. 6) Shipped and billed Job. No. 204 at a contract price of P97,500. (k) Job. No. 206 unfinished as of March 31, others are completed. Prepare and analyze the following to answer the succeeding questions. (a) Journal entries to record transactions during March. (b) Job Order Cost Sheet for the completed jobs. (c) Detailed summary of the schedule of inventories. (d) The amount of over- or underapplied overhead for March
Please answer a,b,c,d based on the following given
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