Reference no: EM133125617
Questions -
Q1. Under Pick Co.'s job order costing system-manufacturing overhead is applied to work in process using a predetermined annual overhead rate. During January 2020, Pick's transactions included the following:
Direct materials issued P90,000
Indirect materials issued 8,000
Manufacturing overhead incurred 125,000
Manufacturing overhead applied 113,000
Direct Labor costs 107,000
Pick had neither beginning nor ending work in process inventory.
What was the cost of jobs completed in January 2020?
Q2. The Assembly Department started the month with 59,000 units in its beginning work in process inventory. An additional 367,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 35,000 units in the ending work in process inventory of the Assembly Department. How many units were transferred to the next processing department during the month?
Q3. X Corp uses predetermined Overhead application rate is based on direct labor hours. During the year, it incurred 345,000 of actual OH, but planned to incur 360,000 of overhead. The company incurred actual labor hours of 1,210,000 hours and applied OH of 363,000 during the year. How many direct labor hours did the company plan to incur?
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