Reference no: EM132738588
Ethel Corp uses job order costing system and the following information is give. The company has three jobs in process, Job # 1, Job # 2, Job # 3.
Raw materials used P840,000
Direct labor per hour 8.50
Factory overhead applied based on direct labor cost 120%
Direct materials were requisitioned as follows for each job: 30%, 25% and 25%, respectively and the balance is for indirect materials. Direct labor hours per job are: 17,500; 21,700; and 29,400, respectively. Indirect labor incurred is P231,000. Other actual factory overhead costs incurred totaled P252,000.
Problem 1: If Job # 3 is completed and transferred, what is the balance of work in process at the end of the period?
a. 693,140
b. 1,195,040
c. 676,900
d. 976, 780
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