Tarzan Company employs a job order cost system. Its manufacturing activities in July 2011, its...
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Accounting
Tarzan Company employs a job order cost system. Its manufacturing activities in July 2011, its first month of operation, are summarized as follows:
Particulars
JOB NUMBERS
1201
1202
1203
1204
Direct Materials
P7, 000
P5, 800
P11, 600
P5, 000
Direct Labor cost
P6, 600
P6, 000
P8, 400
P2, 400
Direct labor hours
1, 100
1, 000
1, 400
400
Units produced
200
100
1, 000
300
Manufacturing overhead is applied at a rate of P5 per direct labor hour.
Jobs 1201, 1202, and 1203 were completed in July.
Required:
1)What is the cost of the completed job?
2)What is the cost of ending WIP?
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