ABC Furniture Corp. received an order to manufacture furniture for a school the order was...
60.1K
Verified Solution
Link Copied!
Question
Accounting
ABC Furniture Corp. received an order to manufacture furniture for a school the order was assigned a job code FS-1. FS-1 job was priced at Php 400,000 and selling & admin cost allocated to the job was 10% of selling price. Material Requisition Date March 05 March 15 March 25 Total Requisition # 78 87 99 Cost Php 25,000 50,000 40,000 Php115.000 Job Time Sheet Date March 05 March 15 March 25 Total Hours 400 400 200 1,000 Rate 50 50 50 Cost Php20.000 20,000 10,000 Php50,000 FOH cost is applied at Php180 per direct labor hour (POHR) Requirement: 1. Calculate Prime Cost 2. Calculate Conversion Cost 3. Calculate Cost of Goods Sold 4. How much is the Gross profit for job code FS-1? 5. How much is the Net profit? 6. Prepare a functional form income statement
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
Best
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.