15.Ford Inc. has completed the Job 101, containing 1,100 shoes during 2021 at the unit costs presented in the table below. Final inspection of Job 101 disclosed 100 spoiled shoes which were sold to a department for P200,000. What is the unit cost of good shoes produced on Job 101 if spoilage loss is charged to all production? * 16.Refer to No. 15. What is the unit cost of the good shoes produced on Job 101 if spoilage loss is charged to specific Job 101? *

15.Ford Inc. has completed the Job 101, containing 1,100 shoes during 2021 at the unit costs presented in the table below. Final inspection of Job 101 disclosed 100 spoiled shoes which were sold to a department for P200,000. What is the unit cost of good shoes produced on Job 101 if spoilage loss is charged to all production? * 16.Refer to No. 15. What is the unit cost of the good shoes produced on Job 101 if spoilage loss is charged to specific Job 101? *

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 8PA: Coops Stoops estimated its annual overhead to be $85,000 and based its predetermined overhead rate...

See similar textbooks

Similar questions

Choose the correct letter of answer materials used, P500,000; labor cost, 60% of raw materials used; overhead, 30% of raw materials used; administrative and selling expenses, 40% of labor cost. The total period cost is equivalent to: a. P 120,000b. P890,000c. P800,000d. P590,000
15.In Company D, direct labor was estimated at 68000, general administrative expenses at 55000, direct materials at 45000, and selling expenses at 59000. The company uses fifo for raw materials valuation and the tiered apportionment method. the cost of the period was calculated as:a. 123000b. 114000c. 113000d.none
The gross margin on Job no. 122 was choices P1,800 (P950) P565 (P975)
Yamato Company’s 2019 fixed manufacturing overhead costs totaled Php120,000 and variable selling costs totaled P45,000. 7. Under variable (direct) costing, how much of the costs are product costs?A. None C. Php120,000B. Php45,000 D. Php165,000 8. Under absorption (full) costing, how much of the costs are period costs?A. None C. Php120,000B. Php45,000 D. Php165,000
Assuming cost of defective units is charged to the job order, what is the unit cost of each unit manufactured? P475.50 P674.85 P690.50 P656.25
Coops Stoops estimated its annual overhead to be $85,000 and based its predetermined overhead rate on 24,286 direct labor hours. At the end of the year, actual overhead was $90,000 and the total direct labor hours were 24,100. What is the entry to dispose of the over applied or under applied overhead?
XYZ industries applies overhead based on direct labor cost. The follawing information was available for the last year: Actual manufacturing overhead OMR50,000; Underapplied manufacturing overhead OMR10,400; Actual Prime cost OMR52,000; Actual Direct material cost OMR19,000; Estimated direct labor cost OMR29,000. What was the estimated manufacturing overhead for the year? Select one: a None of the answers given b. OMR39,600 C OMR34,800 d OMRI9,600 e OMR37.200
A schedule of cost of goods manufactured shows:a. Materials used, P600,000b. Direct labor, 1,600,000c. Overhead costs, P 1,280,000d. Work in process, ending inventory, P280,000Compute for (1) the rate of factory overhead to direct labor cost, and (2) the direct materialsincluded in the work in process inventory, assuming that the direct labor in the work in processis P100,000. a. (1) 80% ; (2) P80,000b. (1) 125% ; (2) P60,000c. (1) 80% ; (2) P100,000d. (1) 125% ; (2) P100,000
Assuming cost of defective units is charged to the job order, what is the unit cost of each unit manufactured? choices P475.50 P690.50 P656.25 P674.85
Assume that the defective goods were charged to all jobs, what is the cost transferred to finished goods at the end of the year? a.) 342,000 b.) 335,000 c.) 349,740 d.) 342,500
Direct Material used was 211700 Direct labour incurred 221300 Overhead is applied at (%) 278 Actual Overhead 615200 Required: Was overhead under or overapplied? And how much?
Richie Manufacturing had underapplied overhead of $42,000 in 20X0. Before adjusting for overappied or underapplied overhead, the ending inventories for direct materials, WIP, and finished goods were $71,000, $161,000, and $138,000 repectively. Unadjusted cost of goods sold was $276,000. 1. Assume that the $42,000 was written off solely as an adjustment to cost of goods sold. Compute the adjusted cost of goods sold. 2. Management has decided to prorate the $42,000 to the appropriate accounts (using the unadjusted ending balances) instead of writing it off solely as an adjustment of cost of goods sold. Would gross profit be igher or lower than in requirement 1? By how much?