Jaselle S.

Sanchez ACC123 5115

BE 306

Job Order Costing

1.The cost of each order produced for a given customer or the cost of each lot to be placed
in stock is recorded on a summary sheet called ___________ ?

BE Company uses a job order cost system and applies factory overhead to production
orders on the basis of direct labor cost. The overhead rates for 2019 are 175% for
Department A and 40% for Department B. Job 162, started and completed during 2019,
was charged with the following costs:

Department
A B
Direct Materials 2,500.00 10,000.00
Direct Labor ? 35,000.00
Factory Overhead 45,000.00 ?

2. The manufacturing cost associated with Job 162, should be _________________ ?

Luxx Corporation has manufactures 50,000 units of compound Y in 2019 at the following
costs. Labor of 256,600 of which 65% represents direct labor. Materials of 184,200 of which
45% represents direct materials. Opening work in process is 64,900. Closing work in
process inventory is 47,800. Overhaed is applied at 135% of direct labor cost.

3. The cost of goods manufactured is __________ ?

Process Costing

1. When units are completed in completed in one department, they are transferred to the
next procesing department accompanied by their corresponding costs.

Department consists of 15,000 units completed and transferred out, and 12,000 units in ending
work in process, 45% as to materials and conversion cost.

2. The equivalent units of production are _________ ?

3. Tanya Company has unit costs of P 15 for materials and P 40 for conversion costs. If there
are 3,500 units in ending work in process, 45% complete as to conversion costs, and fully
complete as to materias. The total cost assignable to work in process is _________?

Joint Products and By-Products

1. The selling prices of products are determined primarily by the costs involved in producing
the products.

Janna Company manufactures products ( A, B, and C) from a joint process. The total costs for
January is 350,000. Other information are as follows:
A B C

Quantity 2,500.00 6,500.00 2,500.00

Process cost after SO P65,000 P87,000 P135,000
Ultimate sales value 145,000.00 287,000.00 235,000.00

2. What is the total production cost for A, B, and C using the market value method?

Annie Company makes two products, AB and CD. They are initially processed from the same
materials and then, after split-of, further processed separately.
Additionals information is as follows:

AB CD Total
Find sales value P8,000 P12,000 P20,000
Joint cost prior to split-of ? ? 13,400
Cost beyond split-of 4,200 4,200 8,400

3. Using the net realizable value approach, compute the assigned joint cost of AB and CD
respectively.
Krissie Mae Casido BE 306
ACC123 5115

Job Order Costing

1. As the items in the facory overhead control account are incurred, the factory overhead control account is
debited. True or False?

Abno Company employs the job order cost system. Relevant data for the month just ended are
summarized below.

WIP, beginning 150,000.00

Direct materials used for the month 180,000.00
Direct labor cost for the month 140,000.00
overhead applied based on direct labor 100,000.00
cost of goods completed 460,900.00
ending work in process referred to Job 163 which was charged with direct labor
of 14,000 and Job 164 charged with overhead of 8,900.

2. What is the cost of direct materials charged to Job 163 and 164.

Jan Company uses jon-order costing. Factory overhead is applied to production at a budgeted cost
145% of direct labor costs. Job 188 was the only job in process at February 28 with
accumulated cost as follows:

Direct materials 6,500.00

Direct labor 3,200.00
Factory Overhead Applied 2,600.00

3. Determine the total prime cost.

Process Costing

1. Certain portions of the work are done at the same time is called parallel product flow.
True or False.

2. If Department I had put 96,000 units into process during the period had ending units in process of
11.500, whats is the number of units transferred to FG inventory, if Department II's ending units
in process is 13,850?
Lee Units Costs
Products Started 35,000 Materials 125,000
manufact Completed % Transferred 15,000 Labor 65,300
ures
three In process, end 5,600 Overhead 23,500
joint Stage of Completion 65%
products,
SA, SF, SK
3.
andCompute
a by- for the equivalent production as to Materials.
product
ST, all in a
single
Joint Products and By-Products
process.
Results
for the
month of
Septemb
1. This is the most popular allocation method.
er were
as
follows:

Materials used 15,000 kgs 23,000

Conversion cost 24,500

No. of Kilos Product Sales Value/Kilo

5,000 SA 12.00
1,400 SF 12.00
2,000 SK 28.00
1,600 ST 2.00

2.What is the cost per kilogram of SK for the month?

3. If joint cost are allocated based on relative weight of the outputs how much of the joint costs would be
allocated to Product SA?