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Problem1 : A company uses job order costing system and the following information is available from its records. The company has three jobs in process: #6, #9, and #13. Data are as follows: Raw materials used P120,000; Direct labor per hour P8.50; Overhead applied based on direct labor cost 120%.Direct materials was requisitioned as follows for each job respectively: 30%, 25%, and 25%; the balance of the requisitions was considered indirect. Direct labor hours per job are 2,500; 3,100; and 4,200 respectively. Indirect labor is P33,000. Other actual overhead costs totalled P36,000. Assume the balance in work in process was P18,500 on June 1 and P25,297 on june 30. The balance on June 30 represents one job that contains direct material of P11,250. How much is the cost of goods manufactured?
Prepare a statement of partnership liquidation, indicating the sale of assets and division of loss and the payment of liabilities.
Skiing Accessories has 3,000 machine hours of plant capacity available for manufacturing sun goggles
Analyse and discuss the budgeted income statement for April 2005 and the detailed costs of Pumpworks, and calculate the contribution per unit that Pumpworks would make if it accepted the order from SA Mining Ltd.
What are opportunity costs and their benefit? What is net present value? Can it ever be negative? Discuss at least two types of alternative investment criteria and how they are used by managers to make decisions?
Assume that March's budgeted sales are 10,000 units. Beginning finished goods inventory contained 1,000 units, and 1,500 units are desired to be on hand at month end. How much will raw material purchases amount to for March?
Describe the effect of the errors on the income statement and balance sheet and is this company profitable? How do you determine whether or not this is the case?
There were no changes during 2010 in the number of common shares, preferred share, or convertible bonds outstanding.
Assuming the joint costs are fixed, what is the joint cost allocated a Can items using the revenue sales value method? What is the gross profit/(loss)?
A job order for 500 units of children's party, What is the unit cost of the goods transferred to storeroom if the rework costs are charged to the specific job?
Determine the amount of indirect material requisitioned for production during May. How much indirect labor cost was apparently incurred during May?
The price of a 5-year semi-annual, Calculate the coupon rate given a market yield of 8%. Is this a discount, premium or at par bond? Why?
schieble corporation provide detachable 5-year warrants to buy one share of common stock par value 2 at 30 at a time
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