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68. The following account balance were taken from Entity C for the quarter ending March 31, 2021.10.16 *

68. The following account balance were taken from Entity C for the quarter ending March 31, 2021.10.16 *

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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68. The following account balance were taken from Entity C for the quarter ending March 31, 2021.10.16 * January 1 P120,000 Inventories: March 31 Raw materials P105,000 Work in process Finished goods 250,000 275,000 170,000 290,000 Amortization of Trademark P 50,000 40,000 48,000 Depreciation - Factory Depreciation - Office Direct Labor 308,000 Indirect Labor 45,000 Indirect Materials 65,000 5,000 Fright-In Purchases - Raw Materials 110,000 Rent Expense - Factory How much is prime cost? 25,000 O A. P438,000 B. P478,000 O C. P490,000 O D. P495,000
Transcribed Image Text:68. The following account balance were taken from Entity C for the quarter ending March 31, 2021.10.16 * January 1 P120,000 Inventories: March 31 Raw materials P105,000 Work in process Finished goods 250,000 275,000 170,000 290,000 Amortization of Trademark P 50,000 40,000 48,000 Depreciation - Factory Depreciation - Office Direct Labor 308,000 Indirect Labor 45,000 Indirect Materials 65,000 5,000 Fright-In Purchases - Raw Materials 110,000 Rent Expense - Factory How much is prime cost? 25,000 O A. P438,000 B. P478,000 O C. P490,000 O D. P495,000
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