II. Pretty La Fea Company reported the following for the year just ended: Beginning Inventories: Raw Materials P450,000 Work in Process 560,000 900,000 Finished Goods Ending Inventories: Raw Materials P600,000 760,000 1,040,000 Work in Process Finished Goods Goods Manufactured Raw Material purchases Overhead applied P6,800,000 2,650,000 50% of DLC 1. How much is the Total Cost of Goods Put into Process? 2 Compute for the Prime Cost of the company

II. Pretty La Fea Company reported the following for the year just ended: Beginning Inventories: Raw Materials P450,000 Work in Process 560,000 900,000 Finished Goods Ending Inventories: Raw Materials P600,000 760,000 1,040,000 Work in Process Finished Goods Goods Manufactured Raw Material purchases Overhead applied P6,800,000 2,650,000 50% of DLC 1. How much is the Total Cost of Goods Put into Process? 2 Compute for the Prime Cost of the company

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Edmiston Company reported the following vear-end information: beginning work in process inventory, s80,000; cast of goods manufactured, $750,000; beginning finished goods inventory, $50,000, endng work in process inventory, $70,000; and ending finished goods inventory, 40,000. How much is Edmiston's cost of goods sold for the year? O 3740,000 O S770,000 • s760,000 O 750,000
. Pretty La Fea Company reported the following for the year just ended: Beginning Inventories: Raw Materials P450,000 Work in Process 560,000 Finished Goods Ending Inventories: 900,000 Raw Materials P600,000 Work in Process 760,000 Finished Goods 1,040,000 Goods Manufactured P6,800,000 Raw Material purchases 2,650,000 Overhead applied 50% of DLC a. how to solve for the indirect material b. how to solve for the Direct Labor Cost How much is the Total Cost of Goods Put into Process? Compute for the Prime Cost of the company. How much is the Cost of Goods Sold? Assuming a 45% Gross Profit Rate and the company sold half…
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Kimbe Factory provided the following information for the last calender year, Beginning inventory direct materials......K50 700 Work in process.....K59 000 Ending inventories direct material.....K21 000 Work in process......K23 600 During the year, direct materials purchased amounted K150 000, direct labour cost was K200 000 and overhead cost was K324 700. There were 100 000 units produced Required: 1. Calculate the total cost of direct materials used in production. 2. Calcate the cost of goods manufactured. 3. Calculate the unit manufacturing cost. 4. Of the unit manufacturing cost calculated in rsquirement 3, assume K1.50 is direct materials and K3.24 is overhead. What is the Prime cost per unit? 5. What is the conversion cost per unit, using the information on 4?
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Goroka Factory provided the following information for the last calender year, Begining inventory Direct Materials K50,800 Work in Process K58,000 Ending inventory Direct Materials K21,000 Work in Process K23,500 During the year, direct materials purchased amounted to K150,000, direct labour cost was K200,000 and overhead was K324,700. There were 100,000 units produced. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. 3. Calculate the unit manufacturing cost 4. Of the unit manufacturing cost calculated in requirement 3, assume K1.50 is…
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