Reference no: EM133150256

Question -

1. On January 1, there were two jobs in process at Worship Printing Company. Details of the jobs are:

Job A-15: DM - 8,700; DL - 3,200

Job A-38: DM - 1,600; DL - 4,200

Materials inventory at January 1 totaled P46,000 and P5,800 in materials were purchased during the month. A requisition for P800 in supplies was filed. On January 1, finished goods inventory consisted of two jobs: Job No. A-07 costing P19,600 and Job No. A-21 costing P7,900. Both jobs were sold during the month. Also during January, Job Nos. a-15 and A-38 were completed. Completing Job No. A-15 required additional P3,400 in direct labor and P1,500 in direct materials. The Job No. A-38 completion costs included an additional P5,400 in direct materials and P10,000 in direct labor. Job No. A-40 was started during the period but was not finished. A total of P15,700 of direct materials were brought from the storeroom during the period and total direct labor costs for the period amounts to P20,400. Factory overhead was applied at 150% of direct labor costs to all of the jobs.

What is the cost of work in process ending inventory in January?

2. Twenty (20) workers, paid at a wage rate of P70.00 per hour, worked 40 hours each, entirely on Job #60 during the past week. Eight(8) other workers, who are paid at a wage rate of P75.00 per hour, spent half of their 40-hours on Job #60 and the other half of their time on Job #61. In addition, a part-timer, worked on Job #60 for 16 hours at P65 per hour. Salaries for supervisors and maintenance personnel related to Job #60 and #61 amounted to P15,000. Idle time showed 15 hours at P70 per hour, not traceable to any job.

Assuming that payroll withholdings are ignored and Jobs #60 and #61 are the only jobs being performed, how much is debited to Work in Process Inventory?