Question
The Grapes Company uses a job order cost accounting system. Overhead is applied to production at a predetermined rate based on direct labor cost. The
The Grapes Company uses a job order cost accounting system. Overhead is applied to production at a predetermined rate based on direct labor cost.
The following postings appear in the ledger accounts of the company for the month of September, 2020:
Work in Process, Sept.1P30,000
DirectMaterials60,000
FactoryOverhead40,000
DirectLabor50,000
On September 30, 2020, finished goods completed, from work in process cost P160,000. Job. No. 327 was the only job not completed in September, and it has been charged P4,600 for factory overhead.
Direct Material charged to Job No. 327 is:
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Managerial Accounting
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
3rd edition
77826485, 978-0077722074, 77722078, 978-0077826482
