Preparing for a test in 2 days, really having a hard time with the subject. I would appreciate the answers and solutions to these problems! Thank you so much :)
26. Selected accounts are presented as follows: The balance of Work in Process at Apr 30 is 27. The job order cost sheets used by Animo Company revealed the following: Job No. 125 was completed during April and Jobs No. 124 and 125 were shipped to customers in April. COST OF GOODS SOLD for the month of April amount to Nos. 28 \& 29 are based on the following information: PPE Corporation requisitioned P45,000 of direct materials in August and used P40,000 of direct labor. Job A3B was ordered by a customer on August 25. The job was not finished by the end of the month but needed an additional P30,000 of direct materials and additional direct labor of P65,000 to finish the job in September. The company applies overhead at the end of each month at a rate of 200% of the direct labor cost incurred. 28. The WORK-IN-PROCESS balance at the end of August relative to Job A3B amount to P. 29. The TOTAL COST of the job when it is completed in September amount to P. Nos. 30 \& 31 are based on the following information: The following data have been recorded for recently completed Job 501 on its job cost sheet. Direct materials cost was P3,187,200. A total of 30,000 direct labor hours and 10,400 machine hours were worked on the job. The direct labor wage rate is P70 per labor hour. The company applies manufacturing overhead on the basis of machine hours. The predetermined overhead rate per machine hour is 80% of the direct labor wage rate per labor hour. A total of 80,000 units were produced. The mark-up on the product is 50%. 30. The TOTAL COST for Job 501 on its job cost sheet would be P. 31. The UNIT PRODUCT COST for Job 501 would be P The UNIT SELLING PRICE for Job 501 would be P 32. EJ Obiena Manufacturing uses direct labor hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor hours were 15,000 hours and the total estimated manufacturing overhead was P285,000. At the end of the year, actual direct labor hours for the year were 13,100 hours and the actual manufacturing overhead for the year was P293,000. The amount of OVER (UNDER) APPLIED OVERHEAD amount to 1 INDICATE in the solution sheet whether MOH is OVERAPPLIED or UNDERAPPLIED. 33. Nesthy Petecio Inc has provided the following data for the month of August. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Manufacturing overhead for the month was overapplied by P5,000. The company allocates any underapplied or overapplied overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the ending balances in those accounts. Note: For interim calculations, use 5 decimal places; ROUND-UP final answer to a whole number. The WORK-IN-PROCESS sold for August after allocation of any underapplied or overapplied overhead for the month is closest to The FINISHED GOODS for August after allocation of any underapplied or overapplied overhead for the month is closest to The COST OF GOODS SOLD for August after allocation of any underapplied or overapplied overhead for the month is closest to P. Nos. 34 \& 35 are based on the following information: Eevee Inc. manufactures micro-circuits in two factories; one in the Aurora Pacific Economic Zone and Freeport (APECO) and another in the Clark Freeport and Special Economic Zone (CFEZ). The Sylveon factory uses direct labor cost (DLP) for its overhead rate and the Glaceon factory uses machine-hours (MHs) for its overhead rate. Information related to both plants for last year is presented below: Note: For the predetermined overhead rate, use 2 decimal places
