Amazing Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances a the beginning and end of 2005: Inventory Classification Raw material Work-in-process Finished Goods January 1, 2005 P 60,000 120,000 150,000 During 2005, the company purchased P250,000 of raw materials and spent P400,000 on direct labor. Manufacturing overhead costs were as follows: Indirect material... Indirect labor........ Depreciation on plant and equipment..... Utilities December 31, 2005 P70,000 115,000 165,000 ********** ..P 10,000 23,000 100,000 25,000

Amazing Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances a the beginning and end of 2005: Inventory Classification Raw material Work-in-process Finished Goods January 1, 2005 P 60,000 120,000 150,000 During 2005, the company purchased P250,000 of raw materials and spent P400,000 on direct labor. Manufacturing overhead costs were as follows: Indirect material... Indirect labor........ Depreciation on plant and equipment..... Utilities December 31, 2005 P70,000 115,000 165,000 ********** ..P 10,000 23,000 100,000 25,000

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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