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Compute the cost of goods sold. CoursHeroTranscribedText: Dalton Company uses a job-order costing system...

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Accounting

Compute the cost of goods sold.

image CoursHeroTranscribedText: Dalton Company uses a job-order costing system and has the following information for the first week of June. Direct labor and direct materials used: Job No. Direct Material Direct Labor Hours 498 P1.500 116 506 960 16 507 415 18 508 345 42 509 652 24 511 308 10 512 835 30 Total P5.015 256 The direct labor wage rate is P4 per hour. The overhead rate is P5 per direct labor hour. Actual overhead costs for the week, P1,480. Jobs completed: Nos. 498, 506, and 509. The company sold Job no. 498 and 509 at 20% above cost. The factory had no work in process at the beginning of the week. QUESTION: Compute the cost of goods sold

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