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Golden Ventures has the following inventories for the month of December 2020:                                                                                 December 1        December 31                 Materials                                             P 18,000               P 14,000                 Work-in-process                                  32,000                   24,800                 Finished goods                                      72,000                   60,000 During December, purchases of direct materials were P 36,000. Direct labor and factory overhead costs were P 40,000 and P56,000 respectively. The cost of goods manufactured in December was Group of answer choices P 155,200 P 143,200 P 148,000 P 136,000

Golden Ventures has the following inventories for the month of December 2020:                                                                                 December 1        December 31                 Materials                                             P 18,000               P 14,000                 Work-in-process                                  32,000                   24,800                 Finished goods                                      72,000                   60,000 During December, purchases of direct materials were P 36,000. Direct labor and factory overhead costs were P 40,000 and P56,000 respectively. The cost of goods manufactured in December was Group of answer choices P 155,200 P 143,200 P 148,000 P 136,000

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 23E: Orinder Company provided the following information for the last calendar year: During the year,...
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Golden Ventures has the following inventories for the month of December 2020:

                                                                                December 1        December 31

                Materials                                             P 18,000               P 14,000

                Work-in-process                                  32,000                   24,800

                Finished goods                                      72,000                   60,000

During December, purchases of direct materials were P 36,000. Direct labor and factory overhead costs were P 40,000 and P56,000 respectively.

The cost of goods manufactured in December was

Group of answer choices
P 155,200
P 143,200
P 148,000
P 136,000
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