QUIZZER IN COST ACCOUNTING-Job Order Costing

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QUIZZER IN COST ACCOUNTING

Job Order Costing

The work in process account of the Malinta Company which uses a job order cost system follows: Work in Process

April 1 Bal 25,000

Direct materials 50,000

Direct Labor 40,000

FO applied 30,000

Finished Goods 125,450

Overhead is applied to production at a predetermined rate, based on direct labor cost. The work in process at April 30

represents the cost of Job No 456, which has been charged with direct labor cost of P3,000 and Job No 789, which has

been charged with applied overhead of P2,400.

The cost of direct materials charged to Job No. 456 and 789 amounted:

a. P8,700

c. P4,500

b. P7,600

d. P4,200

The prime cost during the month amounted to;

a. P70,000

c. P120,000

b. P90,000

d. P145,000

The following cost data pertain to Matatag Company for March 2000

March 1

March 31

Materials

P40,000

P50,000

Work in Process

25,000

35,000

Finished Goods

60,000

70,000

March 1-31

Direct Labor Cost

P120,000

Factory Overhead applied

108,000

Cost of good sold

378,000

The cost of goods manufactured during March was;

a. P378,000

c. P398,000

b. P388,000

d. P425,000

The amount of materials purchased for the month was:

a. P50,000

c. P180,000

b. P170,000

d. P220,000

Hamilton Company uses a job order costing. Factory overhead is applied to production at a budgeted rate of 150% of

direct labor costs. Any overapplied or underapplied factory overhead is closed to the cost of good sold account at the

end of the month. Additional information is available as follows:

Direct Materials

P4,000

Direct Labor

2,000

Factory overhead applied

3,000

P9,000

Jobs 102,103 and 104 were started during February. Direct materials requisitions for February totaled P26,000. Direct

labor costs of P20,000 were incurred for February. Actual factory overhead was P32,000 for February. The only job

still in process at he end of February was Job No 104, with costs of P2,800 for direct materials and P1,800 for direct

labor

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QUIZZER IN COST ACCOUNTING Job Order Costing The work in process account of the Malinta Company which uses a job order cost system follows: Work in Process April 1 Bal 25,000 Direct materials 50,000 Direct Labor 40,000 FO applied 30,000 Finished Goods 125,450 Overhead is applied to production at a predetermined rate, based on direct labor cost. The work in process at April 30 represents the cost of Job No 456, which has been charged with direct labor cost of P3,000 and Job No 789, which has been charged with applied overhead of P2,400. 1. The cost of direct materials charged to Job No. 456 and 789 amounted: a. P8,700 c. P4,500 b. P7,600 d. P4,200 2. The prime cost during the month amounted to; a. P70,000 c. P120,000 b. P90,000 d. P145,000 The following cost data pertain to Matatag Company for March 2000 March 1 March 31 Materials P40,000 P50,000 Work in Process 25,000 35,000 Finished Goods 60,000 70,000 March 1-31 Direct Labor Cost P120,000 Factory Overhead applied 108,000 Cost of good sold 378,000 3. The cost of goods manufactured during March was; a. P378,000 c. P398,000 b. P388,000 d. P425,000 4. The amount of materials purchased for the month was: a. P50,000 c. P180,000 b. P170,000 d. P220,000 Hamilton Company uses a job order costing. Factory overhead is applied to production at a budgeted rate of 150% of direct labor costs. Any overapplied or underapplied factory overhead is closed to the cost of good sold account at the end of the month. Ad ...
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