CoursHeroTranscribedText: 3. Gerber Furniture Company manufactures several different designs of custom made tables. Production costs...
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Accounting
CoursHeroTranscribedText: 3. Gerber Furniture Company manufactures several different designs of custom made tables. Production costs are accounted for using a job order cost system. During the current period. 200 tables are manufactured on Job Number 2522. Costs charged to thejob before inspection are as follows: Materials P 7.500 Labor (300 hours x PiO per hour) 3.000 Manufacturing overhead (P12 per labor hour) 3.600 On inspection. it was discovered that an umbrella ring had not been attached to the tables. To correct the oversight, a small part was welded to the table and leg brace was repainted. The small part cost P 1.00 for each table and the primer cost Pi.50 for each table. Each table require 15 minutes of time. Required: a. Prepare journal entries to record the total cost of Job Number 2522, the rework costs. and the transfer of goods to an inventory account b. Determine the unit cost for each table manufactured
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