Cost Accounting
Cost Accounting
Cost Accounting
WIP 15,000.00
Direct Labor 15,000.00
Direct Method
Factory Overhead Control Accou 25,000.00
Cash 25,000.00
Indirect Method
Indirect Labor 25,000.00
Cash 25,000.00
WIP
Direct Material 50,000.00
Direct Labor 15,000.00
FOH Applied 25,000.00
90,000.00
WIP
270,000.00
9,000.00
279,000.00
Cash Discount
January 1, 2020 Company purchase materials amounting to 10,000 5/10, n/30
When Taken Method/Gross Method
01-Jan-20 Materials 10,000.00
Accounts Payable 10,000.00
Freight In 300.00
Particulars Invoice Peso Freight In Total Cost
Wood 1,000.00 0.05 50.00 1,050.00
Glue 2,000.00 0.05 100.00 2,100.00
Nails 3,000.00 0.05 150.00 3,150.00
Total 6,000.00 0.05 300.00 6,300.00
Spoiled Units
Chargeable to All Production
Particulars Cup cake Unit Costs
Direct Materials 25.00
Direct Labor 20.00
FOH (Includes Php 2
allowance for spoiled
goods) 15.00
Total 60.00
6,000 units were produced
When the order was completed, 100 rejected were sold at Php 10
Work In Process 360,000.00
Materials 6k X 25 150,000.00
Payroll 6K X 20 120,000.00
Factory overhead 6K X 15 90,000.00
Spoilage 1,000.00
WIP (100 X 10) 1,000.00
6,000.00
100.00
5,900.00