Reference no: EM132859829
Beginning Ending
Direct materials P67,000 P60,000
Work in process 145,000 170,000
Finished goods 85,000 70,000
Production data for the same month are:
Direct labor P220,000
Actual factory overhead 145,200
Direct materials purchased 179,300
Transportation in 4,400
Purchase returns and allowances 2,200
Matrix uses one factory overhead control account and charges factory overhead to production at 70% of direct labor cost. The company does not formally recognize over or underapplied overhead until year-end
Question 1: What prime cost should be reported for October?
a. 408,500
b. 365,000
c. 188,500
d. 181,500
Question 2: What were the total manufacturing costs incurred during October?
a. 553,700
b. 569,500
c. 408,500
d. 562,500