Reference no: EM132693488
Problem 1: The regular working days in a factory are Monday to Friday. Joe and Pat (who are being paid P25 and P27 per hour, respectively) worked on Jobs 31 and 32 for the period August 4 to 10.
The weekly time records and summary of the job tickets show the following:
Total number of hours time in:
Joe = 45, Pat = 43;
Overtime: Joe = 6, Pat = 5;
Expended on the jobs:
No 31: Joe = 26, Pat = 17;
No. 32: Joe = 20, Pat = 21.
Joe was authorized to work on overtime on job no. 31 because of its rush nature; Pat had to work on overtime on job no. 32 to make up for a machine breakdown during the week. Overtime premium is 25%. Factory overhead is 60% of direct labor cost and materials cost comprises 80% of total production cost. What should be the respective production costs of job nos. 31 and 32?
Option 1: P7,338 and P6,829
Option 2: P1,834 and P1,707
Option 3: P9,172 and P8,536
Option 4: Not given.