BFAR Company is using the normal costing system. Direct Materials on March 1 was P30,000 and P38,000 on March 31. The following additional manufacturing cost data were available for March: Direct materials purchased Direct labor Manufacturing overhead - applied Manufacturing overhead - actual Increase in Work in Process Inventory Decrease in Finished Goods Inventory P 84,000 60,000 80,000 85,000 30,000 40,000 Compute the Cost of Goods Sold under normal costing system.

BFAR Company is using the normal costing system. Direct Materials on March 1 was P30,000 and P38,000 on March 31. The following additional manufacturing cost data were available for March: Direct materials purchased Direct labor Manufacturing overhead - applied Manufacturing overhead - actual Increase in Work in Process Inventory Decrease in Finished Goods Inventory P 84,000 60,000 80,000 85,000 30,000 40,000 Compute the Cost of Goods Sold under normal costing system.

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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