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CoursHeroTranscribedText: 2. D Company uses job order costing. At the beginning of May, two jobs...

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Accounting

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CoursHeroTranscribedText: 2. D Company uses job order costing. At the beginning of May, two jobs were in process: Job 769 Job 772 Materials P4.000 P1.400 Direct Labor 2,000 600 Applied factory overhead 3,000 900 There was no inventory of finished goods on May 1. During the month, Jobs 773, 774, 776, 778 and 779 were started. Materials requisitions for May totaled $26,000, direct labor cost, P20,000 and actual factory overhead, P32,000. Factory overhead is applied at a rate of 150% of direct labor cost. The only job still in process at the end of May is Job 779, with material costs of $2,800 and P1,800 for direct labor. Job 776, the only finished job on hand at the end of May, had total cost of $4,000. Compute for the actual cost of goods sold

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