The Apple Manufacturing Company manufactures a product exclusively to customer order, employing a job order cost system On August 1, 2008, its work in process inventory (5 partially completed jobs) had a cost of P3, 000 During August, no additional orders were put into production and 18 orders were completed (total cost, P24, 000) of which 14 (cost P20, 000) were shipped Materials requisition in August totaled P17, 000 and direct labor costs were P8, 000 At the beginning of the year 2008, a predetermined overhead rate of 150 of expected direct labor cost was established 26 The August 31, 2008 work in process inventory is a P4, 000 b P16, 000 c P14, 000 d 20, 000 The Apple Manufacturing Company manufactures a product exclusively to customer order, employing a job order cost system On August 1, 2008, its work in process inventory (5 partially completed jobs) had a cost of P3,000 During August, no additional orders were put into production and 18 orders were completed (total cost, P24, 000) of which 14 (cost P20, 000) were shipped Materials requisition in August totaled P17,000 and direct labor costs were P8, 000 At the beginning of the year 2008, a predetermined overhead rate of 150 of expected direct labor cost was established 26 The August 31, 2008 work in process inventory is a P4, 000 b P16,000 C P14,000 d 20,000

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 11, 2024

The Apple Manufacturing Company manufactures a product exclusively to customer order, employing a job order cost system. On August 1, 2008, its work in process

The Apple Manufacturing Company manufactures a product exclusively to customer order, employing a job order cost system.

On August 1, 2008, its work in process inventory (5 partially completed jobs) had a cost of P3, 000. During August, no additional orders were put into production and 18 orders were completed (total cost, P24, 000) of which 14 (cost P20, 000) were shipped.

Materials requisition in August totaled P17, 000 and direct labor costs were P8, 000. At the beginning of the year 2008, a predetermined overhead rate of 150% of expected direct labor cost was established. 26.

The August 31, 2008 work in process inventory is:

a. P4, 000

b. P16, 000

c. P14, 000

d. 20, 000

image text in transcribed

The Apple Manufacturing Company manufactures a product exclusively to customer order, employing a job order cost system. On August 1, 2008, its work in process inventory (5 partially completed jobs) had a cost of P3,000. During August, no additional orders were put into production and 18 orders were completed (total cost, P24, 000) of which 14 (cost P20, 000) were shipped. Materials requisition in August totaled P17,000 and direct labor costs were P8, 000. At the beginning of the year 2008, a predetermined overhead rate of 150% of expected direct labor cost was established. 26. The August 31, 2008 work in process inventory is: a. P4, 000 b. P16,000 C. P14,000 d. 20,000