Chris Company showed cost of goods sold of P 4,320,000 in its statement of comprehensive income after its first year of operations. The total manufacturing cost comprised 50% materials used, 30% direct labor incurred, and 20% manufacturing overhead. Goods in process at year- end were 10% of the total manufacturing cost. Finished goods at year-end amounted to 20% of the cost of goods manufactured. What is the amount of the total manufacturing overhead? O a. 2,400,000 O b. 3,000,000 O c. 5,400,000 O d. 1,200,000

Chris Company showed cost of goods sold of P 4,320,000 in its statement of comprehensive income after its first year of operations. The total manufacturing cost comprised 50% materials used, 30% direct labor incurred, and 20% manufacturing overhead. Goods in process at year- end were 10% of the total manufacturing cost. Finished goods at year-end amounted to 20% of the cost of goods manufactured. What is the amount of the total manufacturing overhead? O a. 2,400,000 O b. 3,000,000 O c. 5,400,000 O d. 1,200,000

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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