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Chapter 3-Test Material 1

The document contains calculations related to manufacturing costs such as raw materials used, direct labor costs, factory overhead costs, and accrued payroll. It calculates totals for work in process, manufacturing costs, prime costs, and applied overhead. It also shows calculations for employee pay including basic pay, overtime premiums, and differentials. The document uses percentages, multiplication, and division to perform the various cost accounting calculations.

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Marcus Monocay
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© © All Rights Reserved
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Download as XLSX, PDF, TXT or read online on Scribd
51 views

Chapter 3-Test Material 1

The document contains calculations related to manufacturing costs such as raw materials used, direct labor costs, factory overhead costs, and accrued payroll. It calculates totals for work in process, manufacturing costs, prime costs, and applied overhead. It also shows calculations for employee pay including basic pay, overtime premiums, and differentials. The document uses percentages, multiplication, and division to perform the various cost accounting calculations.

Uploaded by

Marcus Monocay
Copyright
© © All Rights Reserved
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
You are on page 1/ 6

Chapter 3-Test Material 1

Raw Materials, beg ₱ 100,000.00


Add: Purchases 600,000.00
Less: Raw Materials, End (20,000.00)
Raw Materials Issued ₱ 680,000.00
Multiply 80%
Raw Material Charged to the job ₱ 544,000.00

Labor Cost ₱ 550,000.00


Multiply by rate of direct labor 90%
Direct Labor ₱ 495,000.00

2 and 3

Employee Basic Pay OT Premium Direct Indirect


Andrea 42x156=P6,552.00 2x156x10%=P31.20 ₱ 6,583.20
Mayet 45x68.75=P3,093.75 5x68.75x10%=P34.38 ₱ 3,128.13
Mel 48x68.75=P3,300.00 8x68.75x10%=P55.00 ₱ 3,355.00
Malou 48x68.75=P3,300.00 8x68.75x10%=P55.00 ₱ 3,355.00
Glenn 45x68.75=P3,093.75 5x68.75x10%=P34.38 ₱ 3,128.13
Ryan 42x68.75=P2,887.50 2x68.75x10%= P13.75 ₱ 2,901.25
Boy 40x68.75=P2,750.00 ₱ 2,750.00
TOTAL ₱ 18,617.51 ₱ 6,583.20

Work in Process 18,617.51


Factory Overhead 6,583.20
Accrued Payroll 25,200.71

P68x14 hrs.x5= P4,760.00 Work in Process 4,760.00


P68x6 hrs.x10%x 5= P204 Factory Overhead 238.00
P68x1 hr.x10%x 5= P34 Accrued Payroll

5
Total Manufacturing Cost ₱ 10,000,000.00 Applied Overhead
Multiply by rate of OH applied 27% Divide by rate of OH ap
Applied Overhead ₱ 2,700,000.00 Direct Labor Cost

6
Cost of Goods Manufactured ₱ 6,800,000.00
Add:Work in Proces, end 760,000.00 Total Manufacturing Co
Less:Work in Process, beg (560,000.00) Less: Raw Materials Us
Total Manufacturing Cost ₱ 7,000,000.00 Conversion Cost
Divide by rate of applie
Raw Materials, beg ₱ 450,000.00 Direct Labor
Add: Purchases 2,650,000.00
Less: Raw Materials, end (600,000.00)
Raw Materials Used ₱ 2,500,000.00 Direct Labor
Raw Materials Used
Prime Cost

7
Wage per hour ₱65.00
Multiply by no. of hours during regular shift 16,300
Basic Regular Pay ₱ 1,059,500.00
Work in Process
Factory Overhead
Wage per hour ₱65.00 Accrued Payro
Multiply by no. of overtime hrs. for regular shift 300
Multiply by rate of overtime premium 10%
Overtime pay for regular shift workers ₱ 1,950.00

Wage per hour ₱65.00


Multiply by no. of hours for late shift 6,000
Multiply by rate of late differential premium 15%
Basic Pay for late shift workers ₱ 58,500.00

8
No. of hours worked 50
Multiply pay per hour ₱ 45.00
Amount debited to Work in Process ₱ 2,250.00

9
Cost of Goods Sold 540,000.00 COGM - 0.20(COGM) = 540,000
Work in Process, end. 0.10(Fc) 0.80(COGM) = 540,000
Finished Goods, end. 135,000.00 COGM = 675,000

Cost of Goods Sold 540,000.00 MC - 0.10MC = 675,000


Divide: 0.8 0.90MC = 675,000
Cost of Goods Manufactured 675,000.00 MC = 750,000
Divide: 0.9
Total Manufacturing costs 750,000.00
Multiply: 0.3
Direct labor costs ₱ 225,000.00

10

Cost of Goods Manufactured 450,000.00 Let p= Prime costs


Factory Overhead (150,000.00) p + 120,000 = 450,000
Decrease in Work in Process 30,000.00 p= 330,000
Prim costs ₱ 330,000.00
Raw Materials Used ₱ 544,000.00
Direct Labor 495,000.00
Prime Cost ₱ 1,039,000.00

4,998.00

Applied Overhead ₱ 2,700,000.00


Divide by rate of OH applied on DL 75%
Direct Labor Cost ₱ 2,025,000.00

Total Manufacturing Cost ₱ 7,000,000.00


Less: Raw Materials Used (2,500,000.00)
Conversion Cost ₱ 4,500,000.00
Divide by rate of applied OH 150%
Direct Labor ₱ 3,000,000.00

Direct Labor ₱ 3,000,000.00


Raw Materials Used ₱ 2,500,000.00
Prime Cost ₱ 5,500,000.00

Work in Process 1,059,500.00


Factory Overhead 60,450.00
Accrued Payroll 1,119,950.00
0.20(COGM) = 540,000
GM) = 540,000

0MC = 675,000

00 = 450,000

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