48.The following quarterly cost data have been accumulated for Jeokha Mfg. Inc. Raw materials – beginning inventory (Jan. 1, 2020) 10,000 units @P6.00 Purchases 8,500 units @P7.00 11,000 units @P7.50 Transferred 21,500 units of raw materials to work in process: Work in process – beginning inventory (Jan. 1, 2020) 5,600 units @P13.50 Direct labor P250,000 Manufacturing over head P325,000 Work in process – ending inventory (Mar. 31, 2020) 4,200 units @P13.75 If Jeokha uses the FIFO method for valuing raw materials inventories, compute for the cost of goods manufactured for the quarter ended Mar. 31 2020
48.The following quarterly cost data have been accumulated for Jeokha Mfg. Inc. Raw materials – beginning inventory (Jan. 1, 2020) 10,000 units @P6.00 Purchases 8,500 units @P7.00 11,000 units @P7.50 Transferred 21,500 units of raw materials to work in process: Work in process – beginning inventory (Jan. 1, 2020) 5,600 units @P13.50 Direct labor P250,000 Manufacturing over head P325,000 Work in process – ending inventory (Mar. 31, 2020) 4,200 units @P13.75 If Jeokha uses the FIFO method for valuing raw materials inventories, compute for the cost of goods manufactured for the quarter ended Mar. 31 2020
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter7: The Master Budget And Flexible Budgeting
Section: Chapter Questions
Problem 5E: Prepare a cost of goods sold budget for MacLaren Manufacturing Inc. for the year ended December 31,...
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48.The following quarterly cost data have been accumulated for Jeokha Mfg. Inc.
Raw materials – beginning inventory (Jan. 1, 2020) 10,000 units @P6.00 Purchases 8,500 units @P7.00 11,000 units @P7.50
Transferred 21,500 units of raw materials to work in process:
Work in process – beginning inventory (Jan. 1, 2020) 5,600 units @P13.50 Direct labor P250,000 Manufacturing over head P325,000 Work in process – ending inventory (Mar. 31, 2020) 4,200 units @P13.75
- If Jeokha uses the FIFO method for valuing raw materials inventories, compute for the cost of goods manufactured for the quarter ended Mar. 31 2020
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