REQUIREMENT

1. JOB ORDER COST SHEETS

The following materials were requisitioned Quantity Description Amount Assembly Department Job 101 75 sheets Narra 10,500.00 Job 102 7 sheets Narra 980.00Finishing Department 10 gallons Varnish 40.003. Labor costs according to labor time card and payroll summary were as follows: Assembly Finishing Total Direct Labor Job 101 2,750.00 425.00 3,175.00 Job 102 1,200.00 270.00 1,470.00 Indirect Labor 700.00 100.00 800.004. Additional factory overhead incurred Rent Expense 1,500.00 Depreciation-machines 360.00 Depreciation -factory building 490.00 Utilities expense 225.00 Payroll Taxes 300.00 5. Factory overhead is applied to each job upon completion as follows: Assembly Department - 120% of direct labor cost Finishing Department - 75% of direct labor cost 6. Job 101 was completed on January 16 and Job 102 was completed on January 23. Both jobs were transferred to finished goods storeroom upon completion. 7. Both jobs were picked up by the customers who paid cashMinda and Joselito Manufacturing Company received orders from customers on January 1, 2019, as follows: Job 101 Meycie Company placed an order for 50 tables. The price agreed upon for the job is P25,000. January 18 is the expected date of completion. Job 102 Severe Furniture Store placed an order for 24 chairs. The price agreed upon for the job is P4,000. January 25 is the expected date of completion. Both jobs will be formed in the Assembly department and cleaned and checked in the finishing department. The Minda and Joselito Manufacturing Company uses a job order costing system. The following information relates to Jobs 101 and 102. 1. The purchasing department purchased the following on January 2. Direct Materials 100 sheets of narra for P14,000 Indirect Materials 20 cases of glue for P500 10 cases of nails for P300 50 gallons of varnish for P200