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SILVA Company had only one job in process on May 1. The job had been charged with P1,400 of direct materials, #6,192 of direct

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SILVA Company had only one job in process on May 1. The job had been charged with P1,400 of direct materials, #6,192 of direct labor, and #5,712 of manufacturing overhead (MOH) cost. The company assigns overhead costs to jobs using the predetermined overhead rate of P11.90 per direct labor hour. During May, the following activity was recorded: Raw materials (all direct materials) Beginning balance Purchased in the month Used in production Labor during the month DL hours worked DL costs incurred Actual MOH cost incurred Inventories: Raw materials, May 30 Work in process, May 30 P 8,500 48,000 51,800 1,900 P 24,510 P 21,000 ? P 19,536 Work in process inventory on May 30 contains 4,773 of direct labor cost. Raw materials consist solely of items that are classified as direct materials. The cost of goods manufactured for May 30 was P OP 120,800 OP 97,310 OP 98,920 OP 92,688

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