You Can Do It! PRACTICE EXERCISE 3: EVALUATION: The following are data for PPE Limited Company for the year 2020: 650,000 P Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs 87,000 136,000 104,000 46,000 200,000 226,000 P Inventories Raw materials Work in process Finished goods Beginning P8,800 P6,000 P78,000 Ending P11,000 P20,800 P25,900 Required: Write your answer on a separate sheet of paper 1. Assume all raw materials used in production were direct materials, prepare a statement of projected cost of goods manufactured. 2. Prepare projected income statement.

Financial And Managerial Accounting
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ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter27: Lean Manufacturing And Activity Analysis
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Tou Can Do It PRACTICE EXERCISE 3: EVALUATION:
The following are data for PPE Limited Company for the year 2020:
650,000
87,000
136,000
104,000
46,000
200,000
P
Sales
Direct labor cost
Raw material purchases
Selling expenses
Administrative expenses
Manufacturing overhead applied to work in process
Actual manufacturing overhead costs
226,000
Inventories
Raw materials
Work in process
Finished goods
Beginning
P8,800
P6,000
P78,000
Ending
P11,000
P20,800
P25,900
Required: Write your answer on a separate sheet of paper
1. Assume all raw materials used in production were direct materials, prepare a statement of
projected cost of goods manufactured.
2. Prepare projected income statement.
Transcribed Image Text:Tou Can Do It PRACTICE EXERCISE 3: EVALUATION: The following are data for PPE Limited Company for the year 2020: 650,000 87,000 136,000 104,000 46,000 200,000 P Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs 226,000 Inventories Raw materials Work in process Finished goods Beginning P8,800 P6,000 P78,000 Ending P11,000 P20,800 P25,900 Required: Write your answer on a separate sheet of paper 1. Assume all raw materials used in production were direct materials, prepare a statement of projected cost of goods manufactured. 2. Prepare projected income statement.
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