PROBLEM 1 Jomari Corporation's factory workers Incentive scheme which features a combined piece rate P11.25 and a minimum wage guaranteed wage of P875 per week. Production report for the week show Employees Units produced 67 78 M 80 DD 82 72 75 How much portion of the weekly payroll should be charge to factory overhead? PROBLEM 2 Red Company uses normal costing. During the year ended December 31, 2019, the following information were made available: Total manufacturing costs incurred during the year, P2,200,000; Cost of goods manufactured amounted to P1,940,000; Factory Overhead is applied to production at 80% of direct labor cost; Applied Factory Overhead during the year amounted to 30% of total manufacturing cost; Beginning work-in-process inventory was 75% of the work-in-process at the end. Compute for the cost of direct materials used for the year ended December 31, 2019. PROBLEM 3 A job order for 500 units of children's party giveaways were processed with costs of P80,000 and P30,000 for direct materials and direct labor, respectively. Factory overhead was applied at 50% of direct labor cost which excludes a 5% provision for spoilage. Prior to transfer to the storeroom, 25 units were found to be spoiled with an estimated market value of P50 per unit. What is the unit cost of the goods transferred to the storeroom if the loss is charged to total production? PROBLEM 4 The following costs were incurred during the year by Hopefully Company: Depreciation of factory machines P24,000 Oil used to lubricate factory machines 12,000 Promotional expenses 28,000 Raw materials used 350,000 Repair of factory machines 49,000 Salary of factory superintendent 60,000 Wages of factory workers 120,000 Salary of factory clerk 40,000 Transportation cost of salesmen 38,000 Packaging materials in the store 26,000 Gas/oil expenses of the general manager 80,000 Product warranty expense 33,000 0 Compute for the total product cost. PROBLEM 5 For producing 200 units of product, a company uses P60,000 of direct materials, pays P70,000 of direct labor and incurs P20,000 and P60,000 variable overhead and fixed overhead, respectively. Compute the product unit cost assuming that 450 units are produced. PROBLEM 6 Plato Company is to submit a bid on the production of 22,500 ceramic plates. It is estimated that the cost of materials will be P26,000 and the cost of direct labor will be P30,000. Factory overhead is applied at P2.70 per direct labor hour in the Molding Department and at 35% of the direct labor cost in the Decorating Department. It is estimated that 2,000 direct labor hours, at a cost of P18,000 will be required in the Molding Department. The company wants a markup of 45% of its total production cost. How much will the company bid for the ceramic plates