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How much is the billing price

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Problem - CMG Manufacturing items per the design and specification of its customers, and accordingly uses job order costing system. In July 2015, it completed 10,000 pcs for a customer at a cost of P50 per unit for direct materials, P40 per unit for direct labor. Factory overhead is applied at 100% of direct labor cost. The production incurred 500 defective units due to an error in the specifications made by the customer and that had to be reworked at a conversion cost of P10 per unit. If the customer is billed at a price that yields 25% gross profit rate, how much is the billing price?

Reference no: EM132867899

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