Reyes Company: January 1: RM P270,000; WIP P0; FG P45,000 (100 units); March 31: RM P169,000; WIP P0; FG P? (600 units). During the first quarter, direct materials used were P2,295,000; direct labor P2,500,000; factory overhead P1,250,000; sales were 12,500 units at P600 per unit. Medollar uses FIFO method of costing inventories. What is the amount of total purchases for quarter ending March 31? a.P2,000,000 b.P2,194,000 c.P2,396,000 d.None of the above

Q: Of the 12,000 units produced by Hirofumi Company during April 2022, 10,000 units were sold at P50…

A: Working:  Total variable costs = Materials + Direct labor + Variable factory overhead = P80,000 +…

Q: Reyes Company: January 1: RM P270,000; WIP PO; FG P45,000 (100 units); March 31: RM P169,000; WIP…

A: The amount of total purchase is associated with purchase of raw material. Material consumed = Raw…

Q: Calculate Manufacturing Cost?

A: Manufacturing Cost = Direct material cost + Direct labour cost + Factory Overhead Cost

Q: NUBD Company began its operations on January 1, 2021 and produces a single product that sells for P7…

A: Fixed factory overhead per unit = Fixed factory overhead/ no. of units manufactured = 150000/1400000…

Q: Direct materials used in production totaled P280,000. Direct labor was P375,000 and factory overhead…

A: Conversion costs=Direct labor+Factory overhead=P 375,000+P 180,000=P 555,000

Q: Mine Company produced 1,000 units of a product at a selling price of P95.00 each. Direct materials…

A: Calculation of gross profit are as follows

Q: Of the 12,000 units produced by Hirofumi Company during April 2022, 10,000 units were sold at P50…

A: Working:  Total variable costs = Materials + Direct labor + Variable factory overhead = P80,000 +…

Q: ce Corporation has the following information in its first year of operations in 201A: Units produced…

A: Costing is any system for assigning costs to an element of a business. Costing is typically used to…

Q: Superior Company, which started business on April 1, uses a standard cost system in accounting for…

A: 1)Material quantity variance: Material quantity variance = (Actual quantity - Standard quantity) *…

Q: onsider the data below and perform the following for company YZ.…

A: "Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: The following information pertaining to X Co.'s manufacturing operations: Inventories March 1, 2021…

A: Solution: Direct materials used = Beginning DM inventory + DM purchased - Ending DM inventory =…

Q: The manufacturing cost of XYZ Company during October includes prime costs of OMR85,000. The…

A: Cost of goods manufactured: The cost of goods manufactured is the total costs incurred for the…

Q: 18. On December 1, the Amor Company had the following inventories; materi- ais, P24,000; work in…

A: Prime cost are the expenditures directly related to creating finished products, while conversion…

Q: Information from the records of the Abel Corporation for July 2018 was as follows: Sales $1,230,000…

A: Prime cost : Prime cost is the direct cost that the company incurs in manufacturing a product or…

Q: The following were taken from the books of GK Company:  January 1:  RM P270,000; WIP P0; FG P45,000…

A: Following formulas were used Production cost for the year = RM used  +DL + Factory overhead Nos of…

Q: The following were taken from the books of Curtis Company: January 1: RM $270,000; WIP $0; FG…

A: Total purchases for quarter ending March 31 = Direct materials used + RM on March 31 - RM on January…

Q: The following information is available for Y Co. for its first year of operations: Sales in units…

A: Income before income taxes (variable costing) = Sales - Variable costs - Total fixed costs

Q: Data from Delta Motor Corp are as follows:                 Selling and administrative expenses…

A: Direct materials used = Beginning Direct materials + Purchases of Direct materials -  Ending Direct…

Q: 5) During the month of April, Candice Ltd. provides the following information: direct materials…

A: Formula: Total manufacturing cost =Direct materials + Direct labor + manufacturing overhead

Q: The ABC Manufacturing Company has the following transactions: 1. The company processed P400,000 raw…

A: The cost of producing every single product is computed utilizing the job order technique of pricing.…

Q: The direct labor rate variance is?

A: Variance can be defined analysis tool which helps to determine the difference between the actual…

Q: Chris Company produced and sold 1,000 units during its first month of operations. It reported the…

A: Product cost = Direct materials + Direct labor + Variable manufacturing overhead + Fixed…

Q: Mina Manufacturing Company purchases of materials during March totaled P110,000. While direct labor…

A: The financial statement that records all the expenses and receipts of an organization during a…

Q: 5. MCQ Manufacturing Company produced and sold 200,000 units of Product J-45Z in January…

A: Total production cost: Total production cost means total manufacturing costs; including all direct…

Q: Chris Company produced and sold 1,000 units during its first month of the following cost and…

A: Ans. Selling and Administrative costs are not allocated to the product cost.

Q: On December 1, the Amor Company had the following inventories; materials, P24,000;work in process,…

A: Conversion Cost:- it includes the direct labor and other overhead expenses incurred in the…

Q: During the coming accounting year, Baker Manufacturing, Inc., anticipates the following costs,…

A: Direct labor hours: It refers to the total number of labour hours required to produce the product

Q: The TOYO Manufacturing Company has the following financial information: ·         Manufacturing…

A: Total cost of manufacturing = costs of direct materials used + direct labor costs + manufacturing…

Q: P1.990,000 he following information were taken from the books of Laxa Co. for the month of December,…

A: Prime costs = Direct materials used + Direct labor Conversion Costs = Direct labor + Factory…

Q: he following were taken from the books of Medollar Company: January 1: RM P270,000; WIP P0; FG…

A: Solution 1: Production cost for the year = DM used  +DL + Factory overhead  = P2,295,000 +…

Q: Superman Company has the following costs and expenses for the year ending December 21, 2X20.   Raw…

A: Cost of sales: It is the total cost incurred in the production of goods. It includes cost of…

Q: Mercury Company showed cost of goods sold of P4,320,000 after the first year of operations. The…

A: Direct labor cost is a part of the total manufacturing cost. It is the total wages paid to the…

Q: The following represents the financial information for Domingo Corporation for two months. April…

A: The question is based on the concept of Financial Accounting.

Q: Selected T-accounts of Moore Company are given below for the just completed year:   Raw Materials…

A: ''Since you have posted a question with multiple parts, we will solve the first three sub-parts for…

Q: Mine Company produced 1,000 units of a product at a selling price of P95.00 each. Direct materials…

A: Solution..     Variable cost are the cost which change proportionally with the Change in production…

Q: repare an estimated income statement, comparing operating results if 28,800 and 36,000 units are…

A: Estimated Income Statement is defined as the income statement which is prepared for the estimated…

Q: How much is the net income before tax

A: Net income before tax (EBT) indicating the final amount of the profit before calculating the tax…

Q: Reyes Company: January 1: RM P270,000; WIP Po; FG P45,000 (100 units); March 31: RM P169,000; WIP…

A: Materials used in the business means how much amount or value of materials has been used out of…

Q: Mine Company produced 1,000 units of a product at a selling price of P95.00 each. Direct materials…

A: Period cost is the cost that could not be capitalized such as selling expenses, marketing expenses,…

Q: MARIE SWIFT Company reported the given information for the month of October: Inventories: Raw…

A: "Since you have posted a question with multiple sub parts,we will solve first three sub parts for…

Q: In its first year of operations a company produced and sold 70,000 units of Product A at a selling…

A: Activity-based costing (ABC) is one of the cost accounting methods used by companies to record and…

Q: Superman Company has the following costs and expenses for the year ending December 21, 2X20.   Raw…

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: NUBD Company began its operations on January 1, 2021 and produces a single product that sells for P7…

A: Solution: Unit cost under absorption costing = Direct material + direct labor + variable factory…

Q: The following transactions relate to the SHAINA CORP. for the month of November 2015:     Product…

A: Manufacturing Cost = Direct material cost + Direct labour cost + Factory Overhead Cost

Q: Chris Company produced and sold 1,000 units during its first month of operations. It reported the…

A: The question is based on the concept of Cost Accounting.