Flr, GF Partners Bldg, 139 H.V. dela Costa, Salcedo Village, Makati City
Flr. EPCIB Bldg. 2070 Claro M. Recto, Manila
Practical Accounting 2
Prof. Jennifer Tolentino
QUIZZER IN COST ACCOUNTING
Job Order Costing
The work in process account of the Malinta Company which uses a job order cost system follows:
Work in Process
April 1 Bal
Overhead is applied to production at a predetermined rate, based on direct labor cost.
The work in process at April 30
represents the cost of Job No 456, which has been charged with direct labor cost of P3,000 and Job No 789, which has
been charged with applied overhead of P2,400.
The cost of direct materials charged to Job No. 456 and 789 amounted:
The prime cost during the month amounted to;
The following cost data pertain to Matatag Company for March 2000
Work in Process
Direct Labor Cost
Factory Overhead applied
Cost of good sold
The cost of goods manufactured during March was;
The amount of materials purchased for the month was:
Hamilton Company uses a job order costing.
Factory overhead is applied to production at a budgeted rate of 150% of
direct labor costs.
Any overapplied or underapplied factory overhead is closed to the cost of good sold account at the
end of the month.
Additional information is available as follows:
Factory overhead applied
Jobs 102,103 and 104 were started during February.
Direct materials requisitions for February totaled P26,000.
labor costs of P20,000 were incurred for February.
Actual factory overhead was P32,000 for February.
The only job
still in process at he end of February was Job No 104, with costs of P2,800 for direct materials and P1,800 for direct
The cost of goods manufactured for February was :