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Precise, Inc. manufactures specialized precision electronics kits. In late March, Job orders #0311 and #0322 were started. Estimated materials cost were P90,000 for both orders
- Precise, Inc. manufactures specialized precision electronics kits. In late March, Job orders #0311 and #0322 were started. Estimated materials cost were P90,000 for both orders (60% for #0311) while direct labor hours wereestimated at 700 for #0311 and 400 for #0322. Labor rate is P18 per hour while manufacturing overhead rate is P10 per hour.
By the end of April, 75% of the required materials have been issued to production in the amount of P90,000 and both job orders have been 50% converted with 360 hours charge to #0311 and 180 hours charge to #0322 at the hourly rates given
The total cost charge to Job Order #0311 was:
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