Reference no: EM132969771
Questions -
Q1) Job 910 was recently completed. The following data have been recorded on its job cost sheet:
Direct materials: P3,193
Direct labor-hours: 21 labor-hours
Direct labor wage rate: P12 per labor-hour
Machine-hours: 166 machine-hours
The company applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is P15 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 910 would be:
a. P3,220
b. P3,760
c. P5,935
d. P3,445
Q2) Maine Company uses an ANNUAL cost formula for overhead of P72,000 + P1.60x where x represents each direct labor worked. For the upcoming MONTH, Maine plans to manufacture 96,000 units whereby one unit requires five minutes of direct labor. How much is Maine Company's budgeted overhead for the upcoming MONTH?
a. 12,800
b. 84,800
c. 774,800
d. 18,800
Q3) Racquel Manufacturing Corp's Job 501 for the manufacture of 2,000 coats, which was completed during June at the unit costs as follows:
Direct materials: 27.00
Direct labor: 28.00
Factory overhead (includes allowance for spoilage of P1): 35.00
Final inspection of Job 501 disclosed 200 spoiled coats which were sold to a local jobber for P57.50 per unit.
If the spoilage is attributable to the exacting specification of Job 501, the unit cost of good coats is:
a. P89.00
b. P90.00
c. P92.50
d. P98.89
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