Solution-What the august work in process inventory is

What the august work in process inventory is

Reference no: EM132713611

The Apple Manufacturing Company manufactures a product exclusively to customer order, employing a job order cost system.

On August 1, 2008, its work in process inventory (5 partially completed jobs) had a cost of P3, 000. During August, no additional orders were put into production and 18 orders were completed (total cost, P24, 000) of which 14 (cost P20, 000) were shipped.

Materials requisition in August totalled P17, 000 and direct labor costs were P8, 000. At the beginning of the year 2008, a predetermined overhead rate of 150% of expected direct labor cost was established.

Problem 1: The August 31, 2008 work in process inventory is:

a. P4, 000
b. P16, 000
c. P14, 000
d. 20, 000

Reference no: EM132713611

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What the august work in process inventory is

Reference no: EM132713611

Reference no: EM132713611

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