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How much is the costs of direct materials purchased

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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 TOYO Manufacturing Company has the following financial information:

Manufacturing overhead 300,800

Increase in direct materials 130,000

Increase in work in process 90,000

Decrease in finished goods 320,400

Manufacturing overhead amounts to 50% of direct labor, and the direct labor and manufacturing overhead combined equal 50% of the total cost of manufacturing.

How much is the costs of direct materials purchased?

Reference no: EM133110346

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