Reference no: EM132905302

Question - Hamilton Co uses job-order costing. Factory overhead is applied to production at a budgeted cost of 150% of direct labor costs. Any overapplied or underapplied factory overhead is closed to the cost of goods sold account at the end of each month. Job 101 was the only in process at January 31 with accumulated costs as follows:

Direct materials P4,000

Direct labor 2,000

Factory overhead applied 3,000

Jobs 102, 103, and 104 were started during February. Direct materials requisitions for February totaled P26,000. Direct labor costs of P20,000 were incurred for February. Actual factory overhead was P32,000 for February. The only job still in process at February 28, was Job 104, with costs of P2,800 for direct materials and P1,800 for direct labor. What the cost of goods manufactured for February?