Solutions:

#1
Direct materials P 285,000
Direct labor 245,000
Prime Cost P 530,000

#2
Direct labor P 245,000
Fixed Factory Overhead 175,000
Variable Factory Overhead 155,000
Conversion Cost P 575,000

#3
Direct materials P 285,000
Conversion Cost 575,000
Total Product Cost P 860,000

#4
Marketing costs P 160,000
Administrative costs 145,000
Total Period Cost P 305,000

#s 5-7 High-Low Method

#5
Machine Hours Electricity Expense
Highest month (March) 5,000 P 44,500
Lowest month (February) 2,500 25,000
Difference 2,500 P 19,500

Variable rate per direct = P 19,500 / 2,500 MH

labor hour
= P 7.8 / MH

#6
High Low
Electricity Expense P 44,500 25,500
Less: Variable Portion
(P7.8x 5,000) 39,000
(P7.8 x 2,500) ______ 19,500
Monthly Fixed Cost P 5,500 P 5,500

#7
Y = FC + VC
Y = P5,500 + (P7.8 x)
Y = P5,500 + (P7.8 x 4,500 Machine Hours)
Y = P5,500 + P35,100
Y = P40,600
#8
Direct materials P64,625 / 5,500 chairs P 11.75
Direct labor P8.90 x 2.2 hours 19.58
Prime cost P 31.33

#9
Direct labor P19.5800
Factory overhead P67,306.25 / 5,500 chairs 12.2375
Conversion cost P31.8175

#10
Direct materials P 11.7500
Direct labor 19.5800
Factory overhead 12.2375
Total unit cost P 43.5675