Solution-What should be the respective production costs of

What should be the respective production costs of job no

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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?

Reference no: EM132693828

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What should be the respective production costs of job no

Reference no: EM132693828

Reference no: EM132693828

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