JenJen Printers, Inc., is using job order cost accounting system for some time.

Assume that on June 1 these balances appear in the following accounts:

Raw Materials 50,000
Work-in-process 40,000
Finished goods 30,000

Complete the following for the transactions happened in June

1 Journal entries to record all transactions
2 Ledger postings to relevant T-accounts
3 Statement of cost of goods manufactured and sold
Bal.
a. Purchased additional raw materials amounting to 86,900 on account

b. During the month, raw materials costing 90,400 were used where 5,800 of it is indirect materials.

c. During the month, the following wages were incurred. 35,800 of this is for indirect laborers

Wages paid to EE 100,500.00

SSS Contribution 200.00
Pag-Ibig Contribution 300.00
Withholding Tax 1,300.00

d. Other overhead costs, such as utilities, insurance, and depreciation totaling 23,500 were incurred.

e. Factory overhead is applied on the basis of 80% of direct labor costs.

f. Products costing P225,100 were completed.

g. During the month, finished goods costing P221,500 were sold to various customers
The selling price of the goods was P305,000.
h. Allocate your overhead variance assuming amount is immaterial.
Procurement Production
Raw Materials Inventory Work in Process Inventory

Bal. -
Factory Payroll

Overhead Control

- -

-
 JenJen Printers, Inc
Statement of Cost of Goods Manufactured and Sold
Month Ended June 30, 2020

Direct Materials
Materials Inventory, June 1
Purchases
Total Materials Available for Use -
Less: Materials Inventory, June 30
Total Materials Used -
Less: Indirect Materials Used
Direct Materials Used
Direct Labor
Manufacturing Overhead - Applied
Total Manufacturing Cost ₱0.00
Add: Work in Process Inventory, June 1
Total Costs Put into Process ₱0.00
Less: Work in Process Inventory, June 30
Cost of Goods Manufactured ₱0.00
Add: Finished Goods Inventory, June 1
Total Goods available for sale ₱0.00
Less: Finished Goods Inventory, June 30
Cost of Goods sold - Normal ₱0.00
Add(Less): Underapplied(Overapplied) OH
Cost of Goods Sold - Actual ₱0.00
 Job Order Costing
1 The following data were taken from the records of So Easy Company:

9/30/2020 10/31/2020

Inventories:
Raw Materials ? 50,000.00
Work in Process 80,000.00 95,000.00
Finished Goods 60,000.00 78,000.00

- Raw materials purchased amount to 46,000

-Factory overhead amount to 63,000 which is 75% of direct labor cost
-Selling and administrative expenses amount to 25,000 which is 8% of sales
-Net income for October 2020, 40,000.

Compute for the following:

1. Total Manufacturing cost
2. Cost of goods manufactured
3. Cost of godds sold
4. Raw materials, September 30

2 Foster Company uses job order costing. At beginning of August, two jobs were in process:

Job 769 Job 772

Materials 80,000.00 28,000.00
Direct Labor 40,000.00 12,000.00
Applied FOH 60,000.00 18,000.00

-There was no inventory of finished goods on August 1.

-During the month of August, Job 773,774,776,778 and 779 were started.
-Materials requisitions for August totaled 520,000 direct labor cost, P400,000 and actual factory overhead, 640,0
-The only job still in process at the end of August is Job 779, with costs of 56,000 materials and 36,000 for direct
Job 776, the only finished job on hand at the end of August has a total cost of 80,000

The cost of goods sold at normal is:

 actual factory overhead, 640,000.
materials and 36,000 for direct labor.
 SPOILAGE

Spoilage is charged to all production

a. To recognize all product cost a.

Work in process 160,000.00
Direct materials 60,000.00
Payroll 52,000.00
Factory overhead applied 48,000.00

Materials = 4,000 x 15
Payroll = 4,000 x 13
Overhead = 4,000 x 12

b. To recognize spoilage cost and charge to FOH. b.

Spoiled goods 5,400.00
Factory overhead control 6,600.00
Work in process 12,000.00

Spoiled = 200 x 18
WIP = 200 x 40

c. To record transfer of completed units to Finished Goods Inventory c.

Finished goods 148,000.00
Work in process 148,000.00

Spoilage is charged to the specific job.

a. To recognize all product cost a.

Work in process 156,000.00
Direct materials 60,000.00
Payroll 52,000.00
Factory overhead applied 44,000.00

Materials = 4,000 x 15
Payroll = 4,000 x 13
Overhead = 4,000 x 11

b. To recognize spoilage cost and charge to FOH. b.

c. To record transfer of completed units to Finished Goods Inventory

c.
 REWORK

Additional cost is charged to all production

To recognize all product cost

Materials = 4,000 x 15
Payroll = 4,000 x 13
Overhead = 4,000 x 12

To recognize rework.

To record transfer of completed units to Finished Goods Inventory

Additional cost is charged to specific job

To recognize all product cost

Materials = 4,000 x 15
Payroll = 4,000 x 13
Overhead = 4,000 x 11

To recognize rework.
To record transfer of completed units to Finished Goods Inventory