Assume the variance is material, what is the adjustment of the COGS 2. Assume the variance is material, what is the variance share of the Finished goods inventory acc 3. Assume the variance is material, what is the variance share of the Work in Process account
Jose Corp makes bottles using the latest automated technology. The company applies FOH cost to product on the basis of machine hours. The following are estimate used to determine factory
Machine hours 150,000
The company cost records shows the following actual cost incurred for the year,
Machine hours 120,000
Factory Overhead Cost 1,700,000
Raw Materials 60,000
Work in Process (Includes FOH applied of P72,000) 200,000
Finished Goods (includes FOH applied of P360,000) 1,000,000
Cost of Goods Sold (includes FOH applied of P1,008,000) 2,800,000
1. Assume the variance is material, what is the adjustment of the COGS
2. Assume the variance is material, what is the variance share of the Finished goods inventory acc
3. Assume the variance is material, what is the variance share of the Work in Process account
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