Johnson Company has the following records: January 1 January 31 Raw materials P 54,000 P 42,000 Work-in-process 96,000 74,400 Finished goods 216,000 180,000 During January purchases of direct materials were P 72,000. Direct labor and factory overhead costs were P 120,000 and P 168,000 respectively. How much is the cost of raw materials used in production? Group of answer choices P 84,000 P 108,000 P 95,600 P 72,000

Johnson Company has the following records: January 1 January 31 Raw materials P 54,000 P 42,000 Work-in-process 96,000 74,400 Finished goods 216,000 180,000 During January purchases of direct materials were P 72,000. Direct labor and factory overhead costs were P 120,000 and P 168,000 respectively. How much is the cost of raw materials used in production? Group of answer choices P 84,000 P 108,000 P 95,600 P 72,000

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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