Homework Help is Here – Start Your Trial Now!
Business
Accounting
Ethel Corporation has provided the following information for transactions that occurred during April.       This Corporation uses a JIT costing system   Raw materials were purchased at a total cost of P291,000. All materials purchased were requisitioned for production. Direct labor costs of P231,000 were incurred. Actual factory overhead costs amounted to P675,000 Applied conversion costs totalled P900,000. This included P231,000 of direct labor. All units were completed.   The amount of factory overhead to be back-flushed was: Group of answer choices a. P669,000 d. P231,000 c. P900,000 b. P675,000

Ethel Corporation has provided the following information for transactions that occurred during April.       This Corporation uses a JIT costing system   Raw materials were purchased at a total cost of P291,000. All materials purchased were requisitioned for production. Direct labor costs of P231,000 were incurred. Actual factory overhead costs amounted to P675,000 Applied conversion costs totalled P900,000. This included P231,000 of direct labor. All units were completed.   The amount of factory overhead to be back-flushed was: Group of answer choices a. P669,000 d. P231,000 c. P900,000 b. P675,000

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter2: Accounting For Materials
Section: Chapter Questions
Problem 17E: Davis Co. uses backflush costing to account for its manufacturing costs. The trigger points are the...
See similar textbooks
icon
Related questions
Question
100%

Ethel Corporation has provided the following information for transactions that occurred during April.

 

    This Corporation uses a JIT costing system

 

  1. Raw materials were purchased at a total cost of P291,000.
  2. All materials purchased were requisitioned for production.
  3. Direct labor costs of P231,000 were incurred.
  4. Actual factory overhead costs amounted to P675,000
  5. Applied conversion costs totalled P900,000. This included P231,000 of direct labor.
  6. All units were completed.

 

The amount of factory overhead to be back-flushed was:

Group of answer choices
a. P669,000
d. P231,000
c. P900,000
b. P675,000
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Quality control
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Cost Accounting
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
SEE MORE TEXTBOOKS