2. Brownstone Company's beginning and ending inventories for the month of October are Oct 1 Oct 31 P67,000 P60,000 145,000 170,000 85,000 70,000 Direct Materials Work-in-process Finished Goods Production data for the month of October are P220,000 145,200 179,300 4,400 2,200 Direct Labor Actual Factory overhead Direct Materials purchased Transportation in Purchase returns and allowances Brownstone uses one factory overhead control account and charges overhead to production at 70% of direct labor cost. The company does not formally recognize over or underapplied overhead until year-end. Determine Brownstone Company's net debit or credit to factory overhead control for the month of October.

2. Brownstone Company's beginning and ending inventories for the month of October are Oct 1 Oct 31 P67,000 P60,000 145,000 170,000 85,000 70,000 Direct Materials Work-in-process Finished Goods Production data for the month of October are P220,000 145,200 179,300 4,400 2,200 Direct Labor Actual Factory overhead Direct Materials purchased Transportation in Purchase returns and allowances Brownstone uses one factory overhead control account and charges overhead to production at 70% of direct labor cost. The company does not formally recognize over or underapplied overhead until year-end. Determine Brownstone Company's net debit or credit to factory overhead control for the month of October.

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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