PROBLEM 7 The following cost data relate to the manufacturing activities of the Kamas Company during the most recent year. Factory overhead costs incurred during the year: Property taxes factory P 1,600 Udlities motor-y 2,600 Indirect labor 5, 100 Depreciation factory 13,000 Insurance factory 2,500 Total Actual FOH costs P 24,800 Other costs incurred during the year: Purchases of raw materials P 15,000 Direct labor cost 22,000 Inventories: Raw materials, beginning P 5,000 Raw materials. ending 4,400 Workinprocess, beginning 3,500 Work-in-process, ending 4,500 The company uses a predetermined overhead rate to charge overhead cost to production. The rate for the year just completed was P4.00 per machinehour; a total of 6,000 machinehours we recorded for the te for the cost of manufactured for the ar. PROBLEM 8 Lockout Company revealed the following inventory transactions: Jan. 1 Beginning balance, 16,000 units @ ?140 5 Purchased 4,000 units @ 1150 10 Issued 15,000 units to production 15 Purchased 20,000 units @ P160 16 Returned 1,000 units to supplier from January 15 purchase 25 Issued 8,000 units to production 26 Production returned 4,000 units to storeroom front the January 25 issue 31 Purchased 30,000 units a ?150 What the cost of the invent on Jan 3 1 ' FIFO method? PROBLEM 9 A job order for 500 units of children's party giveaways were processed with costs of \"0,000 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?50 per unit. hssuming that the 25 units were only defective and are not sold but instead reworked for total direct materials cost of 1'375 and total direct labor cost of P500. What is the unit cost of the Me transferred to storeroom if the rework costs are to the citic 'ob? PROBLEM 10 A worker takes 13 hours to complete a work on dain wages and 8 hours on a scheme of bayrnent by results. The worker's day mam pet hour. The cost of material of the product is P300 and the overheads are recovered at 200% of the total wages. The company has an incentive plan of giving bonus for the time saved in a certain job. Bonus is computed as time saved over time allowed to complete the job multiplied by the lime taken by the worker multiplied by lhe rate per hour. Mr. X completed the job within 8 hours including a 30minute idle time. How much is the wage of Mr. X