Job No. 101 Job No. 102 Job No. 103 Job in Process, January 1, 2020: Direct Materials Labor Factory Overhead 40,000 60,000 30,000 30,000 40,000 20,000 Costs added during 2020: Materials Labor Factory Overhead 20,000 100,000 10,000 200,000, 100,000 400,000 ? ? Additional information: 1. Actual overhead for the year 2020 amounted to P350,000. 2. Jobs No. 101 and 102 were completed and transferred to finished goods during year 2020. 3. Job No. 101 was sold during year 2020. 4. The gross profit rate is 20% based on cost.
Job No. 101 Job No. 102 Job No. 103 Job in Process, January 1, 2020: Direct Materials Labor Factory Overhead 40,000 60,000 30,000 30,000 40,000 20,000 Costs added during 2020: Materials Labor Factory Overhead 20,000 100,000 10,000 200,000, 100,000 400,000 ? ? Additional information: 1. Actual overhead for the year 2020 amounted to P350,000. 2. Jobs No. 101 and 102 were completed and transferred to finished goods during year 2020. 3. Job No. 101 was sold during year 2020. 4. The gross profit rate is 20% based on cost.
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 13EA: Job 113 was completed at a cost of $5,000, and Job 85 was completed at a cost of $3,000 and sold on...
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1. What is the cost of finished Goods on December 31, 2020
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