The Hyman Company manufactures special purpose machines to order. On January 1, there were two jobs in process, #705 and #706. The following costs were applied to these jobs in the prior year:

	Job No.
	705	706
Direct material	P 5,000	P 8,000
Direct labor	4,000	3,000
Overhead	4,400	3,300
Total	P13,400	P14,300

During January, the following transactions took place:

*	Raw material costing P40,000 was purchased on account.
*	Jobs #707, #708, and #709 were started and the following costs were applied to them:

	JOB
	707	708	709
Direct materials	P3,000	P10,000	P7,000
Direct labor	5,000	6,000	4,000

*	Job #705 and Job #706 were completed after incurring additional direct labor costs of P2,000 and P4,000, respectively
*	Wages paid to production employees during January totaled P25,000.
*	Depreciation for the month of January totaled P10,000.
*	Utilities bills in the amount of P10,000 were paid for operations during December.
*	Utilities bills totaling P12,000 were received for January operations.
*	Supplies costing P2,000 were used.
*	Miscellaneous overhead expenses totaled P24,000 for January.

Actual overhead is applied to individual jobs at the end of each month using a rate based on actual direct labor costs.

Required:

a.	Determine the January overhead rate.

b.	Determine the cost of each job.

c.	Compute cost of goods manufactured.