The advertising agency has likely adopted job-order costing to accumulate costs since it serves a diverse range of clients. The Angeli Company uses a normal cost system and perpetual inventory. Based on the provided account balances, direct materials control on December 31, 2018 was P30,000 and work in process control on December 31, 2018 was P38,000.
The advertising agency has likely adopted job-order costing to accumulate costs since it serves a diverse range of clients. The Angeli Company uses a normal cost system and perpetual inventory. Based on the provided account balances, direct materials control on December 31, 2018 was P30,000 and work in process control on December 31, 2018 was P38,000.
The advertising agency has likely adopted job-order costing to accumulate costs since it serves a diverse range of clients. The Angeli Company uses a normal cost system and perpetual inventory. Based on the provided account balances, direct materials control on December 31, 2018 was P30,000 and work in process control on December 31, 2018 was P38,000.
The advertising agency has likely adopted job-order costing to accumulate costs since it serves a diverse range of clients. The Angeli Company uses a normal cost system and perpetual inventory. Based on the provided account balances, direct materials control on December 31, 2018 was P30,000 and work in process control on December 31, 2018 was P38,000.
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16.
A new advertising agency serves a wide range of clients including manufacturers, restaurant, service businesses, department stores, and other retail establishments. The accounting system the advertising agency has most likely adopted for its record keeping in accumulating cost is:
a. Job-order costing b. Operation costing c. Relevant costing d. Process costing
20. The Angeli Company uses perpetual inventories and a normal cost system. Balances from selected accounts were: Balances Balances December 31, 2017 December 31, 2018 Factory department overhead control P 56,000 Finished goods control P50,000 46,000 Cost of goods sold 180,000 Direct materials control ? 20,000 Work in process control ? 35,000 Factory overhead applied 72,000
The cost of direct materials requisitioned for production during 2017 was P100,000. The cost of direct materials purchased during 2017 was P90,000. Factory overhead is applied at 200 % of direct labor cost.
Before considering any year-end adjustments for over applied or under applied overhead, compute: (1) Direct materials accounts, December 31, 2018, and (2) Work in process account, December 31, 2018:
a. (1) P30,000 ; (2) 3,000
b. (1 )30.000 ; (2) 38,000 c. (1) 50,000 ; (2) 3,000 d. (1) P3,000 ; (2) 0
54. What was the balance of work in process inventory 2018? on December 31,
