ABC Company manufactures boats. During September, 2020, the company purchased 100 cellular phones at a cost of P100 each. Isaac withdrew 70 phones from the warehouse during the month. Twenty of these phones were installed in salespersons’ cars and the remaining 50 phones were put in boats manufactured during the month. Of the boats put into production during September, 2020, 80% were completed and transferred to the company's storage lot. Fifty percent of the boats completed during the month were sold by September 30. COMPUTE FOR THE:
ABC Company manufactures boats. During September, 2020, the company purchased 100 cellular phones at a cost of P100 each. Isaac withdrew 70 phones from the warehouse during the month. Twenty of these phones were installed in salespersons’ cars and the remaining 50 phones were put in boats manufactured during the month. Of the boats put into production during September, 2020, 80% were completed and transferred to the company's storage lot. Fifty percent of the boats completed during the month were sold by September 30.
COMPUTE FOR THE:
1. cost of goods sold
2.COMPUTE THE SELLING EXPENSES
3. COMPUTE HOW MUCH IS THE FINISHED GOODS INVENTORY OF CELLULAR PHONES
4. COMPUTE HOW MUCH IS THE WORK IN PROCESS INVENTORY OF CELLULAR PHONES
5. COMPUTE HOW MUCH IS THE RAW MATERIALS INVENTORY OF CELLULAR PHONES
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