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Problem 8 The following data relate to Cornerstone Company for the month of...

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Accounting

Problem 8
The following data relate to Cornerstone Company for the month of July, 2022:
Actual overhead incurred in July amounted to P 468,750. Job No.101 and 102
were completed and transferred to finished goods warehouse in July. Overhead is
applied using a predetermined overhead rate. Job 101 was sold for P 687,500..
Requirements: Compute for the following -
Work in process, July r
Overhead assigned to production in July assuming same factory OH rate
Cost of goods manyfactured
Cost of goods sold (actual)
Finished goods inventory, July 31
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