14. A company used P35,000 of raw materials, incurred P73,000 in direct labor costs, and P114,000 in manufacturing overhead costs during the period. If beginning and ending work-in-process inventories were P28,000 and P21,000, respectively, the cost of goods manufactured was a. P229,000. b. P240,000. c. P276,000. d. P234,500. 15. Gamboa Company reports the following cost information for July: Costs of goods manufactured Finished goods inventory, July 1 Finished goods inventory, July 31 Work-in-process inventory, July 1 Work-in-process inventory, July 31 P135,800 30,200 35,300 22,500 18,500 25,300 Raw materials used Direct labor incurred in July amounted to 150 percent of manufacturing overhead in July. What is the amount of direct labor incurred by Gamboa Company in July? a. P75,200 b. P39,700 C. P63,900 d. P49,250
14. A company used P35,000 of raw materials, incurred P73,000 in direct labor costs, and P114,000 in manufacturing overhead costs during the period. If beginning and ending work-in-process inventories were P28,000 and P21,000, respectively, the cost of goods manufactured was a. P229,000. b. P240,000. c. P276,000. d. P234,500. 15. Gamboa Company reports the following cost information for July: Costs of goods manufactured Finished goods inventory, July 1 Finished goods inventory, July 31 Work-in-process inventory, July 1 Work-in-process inventory, July 31 P135,800 30,200 35,300 22,500 18,500 25,300 Raw materials used Direct labor incurred in July amounted to 150 percent of manufacturing overhead in July. What is the amount of direct labor incurred by Gamboa Company in July? a. P75,200 b. P39,700 C. P63,900 d. P49,250
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:14. A company used P35,000 of raw materials, incurred P73,000 in direct labor
costs, and P114,000 in manufacturing overhead costs during the period. If
beginning and ending work-in-process inventories were P28,000 and
P21,000, respectively, the cost of goods manufactured was
a. P229,000.
b. P240,000.
c. P276,000.
d. P234,500.
15. Gamboa Company reports the following cost information for July:
Costs of goods manufactured
Finished goods inventory, July 1
Finished goods inventory, July 31
Work-in-process inventory, July 1
Work-in-process inventory, July 31
P135,800
30,200
35,300
22,500
18,500
25,300
Raw materials used
Direct labor incurred in July amounted to 150 percent of manufacturing
overhead in July. What is the amount of direct labor incurred by Gamboa
Company in July?
a. P75,200
b. P39,700
C. P63,900
d. P49,250
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