COSTACC
FINAL EXAMINATION
1.AdamsCompany is a manufacturing company that has worked on several production jobs during the first quarter of the
year. Below is a listofall the jobs for thequarter:
Jobs 356, 357, 358, and 359 were completed. Jobs 356 and 357 were sold at a profit of ₱500 on each job.
What is the balance of Sales for Adams Company at the end of the first quarter?
2.AdamsCompany is a manufacturing company that has worked on several production jobs during the first quarter of the
year. Below is a listofall the jobs for thequarter:
Jobs 356, 357, 358, and 359 were completed. Jobs 356 and 357 were sold at a profit of ₱500 on each job.
What is the gross profit for Adams Company at the end of the first quarter?
3.TheCavyCompanyestimates that the factoryoverhead for the followingyear willbe ₱1,250,000. Thecompanyhas
decided that thebasis forapplying factoryoverhead shouldbe machinehours, which isestimated tobe 40,000hours.
The machine hours for the month of April for all of the jobs was 4,780. If the actualfactory overhead totaled ₱141,800,
determine theover- orunderappliedamount for the month.
4.The Winston Company estimates that the factory overhead for the following year will be ₱1,250,000. The companyhas
decided that thebasis forapplying factoryoverhead shouldbe machinehours, which is estimated tobe50,000hours.