A. Jarlos, general manager of a highly automated coffee production plant in Laguna. Ilocos Sur,...
80.2K
Verified Solution
Link Copied!
Question
Accounting
A. Jarlos, general manager of a highly automated coffee production plant in Laguna. Ilocos Sur, has provided the following information for transactions that occurred during October.The production plant uses a JIT costing system.
a)Raw materials costing P300,000 were purchased.
b)All materials costing P300,000 were requisitioned for production.
c)Direct labor costs of P200,000 were incurred.
d)Actual factory overhead costs amounted to P955,000.
e)Applied conversion costs totaled P1,300,000.This includes the direct labor cost.
f)All units are completed and immediately sold.
What was the overapplied or underapplied conversion costs for the month?
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.