The following data are available for Peter Senen Company during the month of July 2020:Direct materials purchasedP 95,000Direct labor 80,000Indirect materials 40,000Indirect labor 45,000Other indirect factory costs 60,000Marketing expenses 72,000Office salaries and wages 30,000Raw materials inventory, June 30 35,000Raw materials inventory, July 31 50,000 What is the total factory overhead? 13. Jane Company uses Job order costing system and applies manufacturing overhead to work in process using a predetermined annual overhead rate.During May 2020, Jane’s transactions included the following:Direct materials issued to productionP50,000Indirect materials issued to production 4,000Manufacturing overhead incurred 75,000Manufacturing overhead applied 80,000Direct labor costs 60,000Jane had neither beginning nor ending work in process inventory. What was the cost of jobs completed in May 2020? 14. Krissy Company uses job order cost system. The following transactions were completed in January, which was the first month of operations:Received direct materials and supplies costing P20,000Materials and supplies were requisitioned as follows:Direct materialsJob 1P3,000Job 2 4,000Job 3 1,000P8,000Indirect materials 1,000Factory payroll was distributed as follows:Direct laborJob 1(200 hrs)P2,000Job 2(300 hrs) 3,000Job 3(400 hrs) 4,0009,000Indirect labor2,000Other indirect manufacturing costs totaledP3,000Indirect manufacturing costs are applied on the basis of direct labor hours.The budget for 2020 included 9,000 direct labor hours and a total overhead budget of P63,000. How much factory overhead applied to production? 15. Krissy Company uses job order cost system. The following transactions were completed in January, which was the first month of operations:Received direct materials and supplies costing P20,000Materials and supplies were requisitioned as follows:Direct materialsJob 1P3,000Job 2 4,000Job 3 1,000P8,000Indirect materials 1,000Factory payroll was distributed as follows:Direct laborJob 1(200 hrs)P2,000Job 2(300 hrs) 3,000Job 3(400 hrs) 4,0009,000Indirect labor2,000Other indirect manufacturing costs totaledP3,000Indirect manufacturing costs are applied on the basis of direct labor hours.The budget for 2020 included 9,000 direct labor hours and a total overhead budget of P63,000. What is the balance of materials inventory at the end? 16. Krissy Company uses job order cost system. The following transactions were completed in January, which was the first month of operations:Received direct materials and supplies costing P20,000Materials and supplies were requisitioned as follows:Direct materialsJob 1P3,000Job 2 4,000Job 3 1,000P8,000Indirect materials 1,000Factory payroll was distributed as follows:Direct laborJob 1(200 hrs)P2,000Job 2(300 hrs) 3,000Job 3(400 hrs) 4,0009,000Indirect labor2,000Other indirect manufacturing costs totaledP3,000Indirect manufacturing costs are applied on the basis of direct labor hours.The budget for 2020 included 9,000 direct labor hours and a total overhead budget of P63,000. What is the factory overhead under or over applied? 17. Combate Company uses a job order cost system and applies factory overhead on the basis of the direct labor cost. The overhead rates for 2020 are 200% for department A and 50% for Department B. Job 123, started and completed during 2020 was charged with the following costs:Department ADepartment BDirect materialsP25,000P5,000Direct labor ?30,000Factory overhead 40,000 ? What is the total manufacturing costs associated with Job 123? Peter Senen company manufactures tools to customer specifications. The following data pertain to Job 222 for the month of February:Direct materials usedP 4,200Direct -labor hours worked 300Direct -labor rate per hour P8.00Machine hours used 200Applied factory overhead rate per hour P15.00 What is the total manufacturing cost recorded on Job 222 for February? 18. Grace Company used a predetermined ratew during 2020 of P2 per direct labor hour, based on an estimate of 20,000 direct labor hour s to be worked during the year. Actual costs and activity during 2020 were:Actual manufacturing overhead cost incurredP30,000Actual direct labor hours worked18,000 What would be the under or overapplied overhead for 2020?

Question

The following data are available for Peter Senen Company during the month of July 2020:​Direct materials purchased​P 95,000​Direct labor​​​   80,000​Indirect materials​​​   40,000​Indirect labor​​​   45,000​Other indirect factory costs​   60,000​Marketing expenses​​  72,000​Office salaries and wages​​  30,000​Raw materials inventory, June 30​  35,000​Raw materials inventory, July 31​  50,000 What is the total factory overhead? 13. Jane Company uses Job order costing system and applies manufacturing overhead to work in process using a predetermined annual overhead rate.​During May 2020, Jane’s transactions included the following:​Direct materials issued to production​P50,000​Indirect materials issued to production​    4,000​Manufacturing overhead incurred​​  75,000​Manufacturing overhead applied​​  80,000​Direct labor costs​​​​  60,000Jane had neither beginning nor ending work in process inventory. What was the cost of jobs completed in May 2020? 14. Krissy Company uses job order cost system. The following transactions were completed in January, which was the first month of operations:Received direct materials and supplies costing P20,000Materials and supplies were requisitioned as follows:​Direct materials​​​​Job 1​​P3,000​​Job 2​​  4,000​​Job 3​​  1,000​P8,000​Indirect materials​​​  1,000Factory payroll was distributed as follows:​Direct labor​​Job 1(200 hrs)​P2,000​​Job 2(300 hrs)​  3,000​​Job 3(400 hrs)​  4,000​9,000​Indirect labor​​​2,000Other indirect manufacturing costs totaled​P3,000Indirect manufacturing costs are applied on the basis of direct labor hours.The budget for 2020 included 9,000 direct labor hours and a total overhead budget of P63,000. How much factory overhead applied to production? 15. Krissy Company uses job order cost system. The following transactions were completed in January, which was the first month of operations:Received direct materials and supplies costing P20,000Materials and supplies were requisitioned as follows:​Direct materials​​​​Job 1​​P3,000​​Job 2​​  4,000​​Job 3​​  1,000​P8,000​Indirect materials​​​  1,000Factory payroll was distributed as follows:​Direct labor​​Job 1(200 hrs)​P2,000​​Job 2(300 hrs)​  3,000​​Job 3(400 hrs)​  4,000​9,000​Indirect labor​​​2,000Other indirect manufacturing costs totaled​P3,000Indirect manufacturing costs are applied on the basis of direct labor hours.The budget for 2020 included 9,000 direct labor hours and a total overhead budget of P63,000. What is the balance of materials inventory at the end? 16. Krissy Company uses job order cost system. The following transactions were completed in January, which was the first month of operations:Received direct materials and supplies costing P20,000Materials and supplies were requisitioned as follows:​Direct materials​​​​Job 1​​P3,000​​Job 2​​  4,000​​Job 3​​  1,000​P8,000​Indirect materials​​​  1,000Factory payroll was distributed as follows:​Direct labor​​Job 1(200 hrs)​P2,000​​Job 2(300 hrs)​  3,000​​Job 3(400 hrs)​  4,000​9,000​Indirect labor​​​2,000Other indirect manufacturing costs totaled​P3,000Indirect manufacturing costs are applied on the basis of direct labor hours.The budget for 2020 included 9,000 direct labor hours and a total overhead budget of P63,000. What is the factory overhead under or over applied? 17. Combate Company uses a job order cost system and applies factory overhead on the basis of the direct labor cost. The overhead rates for 2020 are 200% for department A and 50% for Department B. Job 123, started and completed during 2020 was charged with the following costs:​​​Department A​​Department BDirect materials​​P25,000​​​P5,000Direct labor​​     ?​​​30,000Factory overhead​​  40,000​​​   ? What is the total manufacturing costs associated with Job 123? Peter Senen company manufactures tools to customer specifications. The following data pertain to Job 222 for the month of February:​Direct materials used​​​P 4,200​Direct -labor hours worked​​       300​Direct -labor rate per hour​​​  P8.00​Machine hours used​​​      200​Applied factory overhead rate per hour​  P15.00 What is the total manufacturing cost recorded on Job 222 for February? 18. Grace Company used a predetermined ratew during 2020 of P2 per direct labor hour, based on an estimate of 20,000 direct labor hour s to be worked during the year. Actual costs and activity during 2020 were:​Actual manufacturing overhead cost incurred​P30,000​Actual direct labor hours worked​​​18,000 What would be the under or overapplied overhead for 2020?

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