Question 40 (1 point) Mark Kevin Motor of Panguil Bay, Philippines makes marine motors for vessels. The company uses a job-order costing system. Only three jobs - Job MK508, Job MK509 and Job MK510 - were worked on during May and June. Job MK508 was completed on June 20; the other two jobs were uncompleted on June 30. Job cost sheets on the three jobs are given below: MK508 MK509 MK510 May Cost Incurred Direct Materials P23,750 P12,750 PO Direct Labor P20,000 P7,500 PO FOH P28,000 P10,500 PO June Cost Incurred Direct Materials PO P15,000 P18,000 Direct Labor FOH P10.000 P18.750 P21.250 ? ? ? *MK508 and MK509 were started during May The following additional information is available: a. b. Manufacturing overhead is applied to jobs on the basis of direct labor cost. Balances in the inventory accounts at May 31, were: Raw Materials P75,000; WIP ?; Finished Goods 125,000. Required: NOTE: Do NOT put peso sign. PUT commas. 1. Compute for Cost of Goods Manufactured PJ Question 41 (1 point) 2. Determine the June 30 Work in Process inventory account. Question 42 (1 point) On September 18, 2019, a fire destroyed Wawangz World's Work in Process Inventory, which consisted of two in process custom jobs (WA25 and NG28). The following information had, however, been contained in some offsite records: . Herman World applies overhead at a rate of 85% of direct labor cost. The cost of goods sold for the company averages 75% of selling price. Sales from July 1 to the date of the fire totaled P254,800. . The company's wage rate for production employees is P8.90 per hour. As of September 18, P8,400 of direct material and 11.20 hours of direct labor had been recorded for WA25. Also at that time, P5,880 of direct material and 16 hours of direct labor had been recorded for NG28. . On July 1, 2019, inventories were as follows: P7,800 of Direct Materials, ??? Work in Process, and P27,560 of Finished Goods. Jobs WA25 and NG28 were not in process on July 1. One job, R21, was completed and in the warehouse awaiting shipments on September 18. The total cost of this job was P21,440. Determine the following: NOTE: Do NOT put peso sign. PUT commas. 1. Cost of goods sold for the 3rd quarter. A Question 43 (1 point) 2. Cost of goods manufactured during the 3rd quarter PJ Question 44 (1 point) 3. Cost of WIP inventory destroyed by fire. NOTE: Round up to nearest whole number. A