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69. 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 Depreciation - Factory Depreciation - Office 40,000 48,000 Direct Labor 308,000 Indirect Labor 45,000 Indirect Materials 65,000 5,000 110,000 Fright-In Purchases - Raw Materials Rent Expense - Factory 25,000 How much is conversion cost? O A. P533,000 O B. P581,000 O C. P590,000 D. P594,000

69. 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 Depreciation - Factory Depreciation - Office 40,000 48,000 Direct Labor 308,000 Indirect Labor 45,000 Indirect Materials 65,000 5,000 110,000 Fright-In Purchases - Raw Materials Rent Expense - Factory 25,000 How much is conversion cost? O A. P533,000 O B. P581,000 O C. P590,000 D. P594,000

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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69. 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 Depreciation - Factory Depreciation - Office 40,000 48,000 Direct Labor 308,000 Indirect Labor 45,000 Indirect Materials 65,000 Fright-In 5,000 Purchases - Raw Materials 110,000 Rent Expense - Factory 25,000 How much is conversion cost? O A. P533,000 O B. P581,000 C. P590,000 O D. P594,000
Transcribed Image Text:69. 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 Depreciation - Factory Depreciation - Office 40,000 48,000 Direct Labor 308,000 Indirect Labor 45,000 Indirect Materials 65,000 Fright-In 5,000 Purchases - Raw Materials 110,000 Rent Expense - Factory 25,000 How much is conversion cost? O A. P533,000 O B. P581,000 C. P590,000 O D. P594,000
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