Camille Company has underapplied overhead of P45,000 for the year ended December 31. Before disposition of the underapplied overhead, selected December 31 balances from Camille Company's records are as follows: P 720,000 Cost of goods sold Inventories Direct materials Work in process Finished goods 36,000 54,000 90,000 Under Camille's cost accounting system, over or underapplied overhead is allocated to appropriate inventories and cost of goods sold based on year-end balances. 27. In its income statement, Camille should report cost of goods sold of P 682,500 b.. P 684,000 а. c.. P 756,000 d. P 757,500

Camille Company has underapplied overhead of P45,000 for the year ended December 31. Before disposition of the underapplied overhead, selected December 31 balances from Camille Company's records are as follows: P 720,000 Cost of goods sold Inventories Direct materials Work in process Finished goods 36,000 54,000 90,000 Under Camille's cost accounting system, over or underapplied overhead is allocated to appropriate inventories and cost of goods sold based on year-end balances. 27. In its income statement, Camille should report cost of goods sold of P 682,500 b.. P 684,000 а. c.. P 756,000 d. P 757,500

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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