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/ ACCTG201 SY20-21 3045
/ Job Order Costing
/ Quiz No. 1 Part 3 Multiple Choice Problems
Started on Monday, 9 November
2020, 4:42 PM
State Finished
Completed on Monday, 9 November
2020, 4:58 PM
Time taken 15 mins 16 secs
Question 1
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The accounting records for 2019 of EGGS
Manufacturing Company showed the
following information:
Increase in raw materials P45,000
inventory
Decrease in Finished goods 150,000
inventory
Increase in Work-in-Process 60,000
inventory
Raw materials purchased 1,290,000
Direct labor payroll 600,000
Factory overhead 900,000
Freight out 135,000
The cost of raw materials used for the period
amounted to
a. P1,245,000
b. P1,335,000
c. P1,380,000
d. P1,290,000
Question 2
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Work in process of Alonzo Corporation on
July 1, 2019 (per general ledger) is P22,800.
Job 101 Job 102
Direct materials P6,000 P8,000
Direct labor 3,000 2,500
Amount charged to Work in process for July,
2019
Job 101 Job 102 Job 103 Job 104
Direct P3,000 P2,000 P6,000 P4,500
materials
Direct labor 1,000 1,500 2,600 2,000
Factory overhead is applied to production
based on direct labor cost. Job 101 and 103
are completed during the month.
Cost of goods put into process must be:
a. P42,100
b. P42,100
c. P49,660
d. P45,400
Question 3
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The cost of goods manufactured for the
month of July is
a. P21,600
b. P31,800
c. P25,560
d. P15,400
Question 4
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Marco Corporation has a job order cost
system. The following debits (credits)
appeared in the general ledger account work-
in-process for the month of September, 2019:
September 1 Balance P12,000
September 30, direct materials 40,000
September 30, direct labor 30,000
September 30, factory 27,000
overhead
September 30, to finished (100,000)
goods
Marco applies overhead to production at a
predetermined rate of 90% based on direct
labor cost. Job no. 232, the only job still in
process at the end of September, 2019, has
been charged with factory overhead of
P2,250.
What was the amount of direct materials
charged to Job 232 as at the end of
September, 2019?
a. P2,500
b. P2,250
c. P9,000
d. P4,250
Question 5
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The accounting records for 2019 of Wagner
Music Co. showed the following:
Decrease in raw materials P45,000
inventory
Decrease in finished goods 150,000
inventory
Raw materials purchased 1,290,000
Direct labor payroll 600,000
Factory overhead 900,000
Freight-out 135,000
The cost of raw materials used for the period
amounted to
a. P1,290,000
b. P1,380,000
c. P1,245,000
d. P1,335,000
Question 6
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The following information pertains to Alma
Co., manufacturing process
2019
March 1 March 31
Inventories
Direct materials P36,000 P30,000
Work in process 18,000 12,000
Finished goods 54,000 72,000
Additional information for the month of March:
Direct materials 84,000
purchased
Direct labor payroll 60,000
Direct labor rate per 7.50
hour
Factory overhead rate per direct 10.00
labor hour
How much must be the prime cost for the
month?
a. P150,000
b. P90,000
c. P150,000
d. P144,000
Question 7
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How much must be the cost of goods
manufactured for the month?
a. P230,000
b. P296,000
c. P236,000
d. P236,000
Question 8
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How much is the conversion cost for the
month?
a. P170,000
b. P60,000
c. P140,00
d. P140,000
Question 9
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Products at Redd Manufacturing are sent
through two production departments:
Fabricating and Finishing. Overhead is
applied to products in the Fabricating
Department based on 150 percent of direct
labor cost and $18 per machine hour in
Finishing. The following information is
available about Job #297:
Fabricating Finishing
Direct material P1,590 P580
Direct labor cost ? 48
Direct labor hours 22 6
Machine hours 5 15
Overhead applied 429 ?
What is the total cost of Job #297?
a. P3,203
b. P3,093
c. P3,005
d. P2,647
Question 10
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Cajun Company. uses a job order costing
system. During April 20X9, the following costs
appeared in the Work in Process Inventory
account:
Beginning balance P 24,000
Direct material used 70,000
Direct labor incurred 60,000
Applied overhead 48,000
Cost of goods manufactured 185,000
Cajun Company applies overhead on the
basis of direct labor cost. There was only one
job left in Work in Process at the end of April
which contained P5,600 of overhead. What
amount of direct material was included in this
job?
a. P6,920
b. P8,000
c. P4,400
d. P4,480
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