Nincada Inc Inc has provided the following data for the month of March. There were no beginning inventories;consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for thecurrent month.Work-in-ProcessFinished GoodsCost of Goods SoldTotalDirect MaterialsP 4,450$ 5,800$8,500P 18,750Direct Labor5,7505,3749,70020,824Applied Overhead6,20011,9507,87626,026Total$ 16,400> 23,124$ 26,076$ 65,600Manufacturing overhead for the month was OVERAPPLIED by $8,000.The company allocates any underapplied or overapplied overhead among work in process, finished goods, and costof goods sold at the end of the month on the basis of the ending balances in those accounts.Nincada's Cost of Goods Sold for the month after allocation of any underapplied or overapplied overhead is closestto PNote: For interim calculations, use 5 decimal places; round-off final answer to a whole number. Nidoran Woodworking Corporation produces fine cabinets. The company uses a job-order costing system in whichits predetermined overhead rate is based on capacity. The capacity of the factory is determined by the capacity ofits constraint, which is an automated shaper. Additional information is provided below for the most recent month:Estimates at the beginning of the month:Estimated total fixed MOHP 99,225700 hoursCapacity of the shaperP 79,268P 12,200℗ 17,400$ 35,700P 8,1001,300 hoursActual results:SalesDirect materialsDirect laborActual total fixed MOHSelling and administrative expenseActual hours of shaper useThe TOTAL MANUFACTURING COSTS amount to P

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Answered: Nincada Inc Inc has provided the…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 2PA: York Company Is a machine shop that estimated overhead will be $50,000, consisting of 5,000 hours of...

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Nincada Inc Inc has provided the following data for the month of March. There were no beginning inventories;
consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the
current month.
Work-in-Process
Finished Goods
Cost of Goods Sold
Total
Direct Materials
P 4,450
$ 5,800
$
8,500
P 18,750
Direct Labor
5,750
5,374
9,700
20,824
Applied Overhead
6,200
11,950
7,876
26,026
Total
$ 16,400
> 23,124
$ 26,076
$ 65,600
Manufacturing overhead for the month was OVERAPPLIED by $8,000.
The company allocates any underapplied or overapplied overhead among work in process, finished goods, and cost
of goods sold at the end of the month on the basis of the ending balances in those accounts.
Nincada's Cost of Goods Sold for the month after allocation of any underapplied or overapplied overhead is closest
to P
Note: For interim calculations, use 5 decimal places; round-off final answer to a whole number.

Nidoran Woodworking Corporation produces fine cabinets. The company uses a job-order costing system in which
its predetermined overhead rate is based on capacity. The capacity of the factory is determined by the capacity of
its constraint, which is an automated shaper. Additional information is provided below for the most recent month:
Estimates at the beginning of the month:
Estimated total fixed MOH
P 99,225
700 hours
Capacity of the shaper
P 79,268
P 12,200
℗ 17,400
$ 35,700
P 8,100
1,300 hours
Actual results:
Sales
Direct materials
Direct labor
Actual total fixed MOH
Selling and administrative expense
Actual hours of shaper use
The TOTAL MANUFACTURING COSTS amount to P

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Nincada Inc Inc has provided the following data for the month of March. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month.

	Work-in-Process	Finished Goods	Cost of Goods Sold	Total
Direct Materials	₱ 4,450	₱ 5,800	₱ 8,500	₱ 18,750
Direct Labor	₱ 5,750	₱ 5,374	₱ 9,700	₱ 20,824
Applied Overhead	₱ 6,200	₱ 11,950	₱ 7,876	₱ 26,026
Total	₱ 16,400	₱ 23,124	₱ 26,076	₱ 65,600

Manufacturing overhead for the month was OVERAPPLIED by ₱8,000.

The company allocates any underapplied or overapplied overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the ending balances in those accounts.

Nincada's Finished Goods after allocation of any underapplied or overapplied overhead for the month is closest to ₱_____________.

Note: For interim calculations, use 5 decimal places; round-off final answer to a whole number.

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