Inventories: March 1 March 31 Raw material P18,000 P15,000 Work in process 9,000 6,000 Finished goods 27,000 36,000 Additional information for March: Raw material purchased P42,000 Direct labor payroll 30,000 Direct labor rate per hour 7.50 Overhead rate per direct labor hour 10.00   Required a. prime cost incurred b.conversion cost incurred c. Cost of Goods Manufactured

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A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

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A: Introduction:- Break-even point point means, where no profit or loss At Break-even point point,…

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Q: P13-14 Short-Term Debt Expected to Be Refinanced Several times during 2010, Palmer Company issued…

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A: High-low method:   It is a way to figure out how much something costs to produce. It is a technique…

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Q: Care Manufacturers produces two products; Pureline and Furline.  Both products use raw material…

A: The estimation of sales revenue for a specific time period is referred to as a sales budget. For the…

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A: FOB is a word that is frequently used in international commercial transactions. It stands for "free…

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.