The following data are given by Domestic Mfg. Corp: increase in finished goods inventory - P 12,000; decrease in raw materials inventory - P 10,000; increase in work in process inventory - P 5,000; purchase returns and allowances - P 6,000; freight in - P 7,000; labor cost - P 65,000; factory overhead - P 25,000; cost of goods sold - P 153,000. How much must be raw materials purchases?
The following data are given by Domestic Mfg. Corp: increase in finished goods inventory - P 12,000; decrease in raw materials inventory - P 10,000; increase in work in process inventory - P 5,000; purchase returns and allowances - P 6,000; freight in - P 7,000; labor cost - P 65,000; factory overhead - P 25,000; cost of goods sold - P 153,000. How much must be raw materials purchases?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following data are given by Domestic Mfg. Corp: increase in finished goods inventory - P 12,000; decrease in raw materials inventory - P 10,000; increase in work in process inventory - P 5,000; purchase returns and allowances - P 6,000; freight in - P 7,000; labor cost - P 65,000; factory overhead - P 25,000; cost of goods sold - P 153,000. How much must be raw materials purchases?
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