Donna Company submits the following data for Маy 2013 Direct labor cost Purchases Factory overhead direct labor cost Inventories P180, 000 P200, 000 Applied at 110% of Мay Мау 31 Finished goods P324, 000 Work in Process P18, 000 Materials P18, 000 1 P55, 00 P75, 00 P132, 00 Actual factory overhead amounts to P180,000 1. How much is the Company's Cost of goods sold adjusted assuming over or under applied is closec to COGS? 2. If there are 10,000 units produced during the month, how much is the cost per unit of product? 3. How much is the adjustment posted on the Co: of Goods sold Account? 4. The posted adjustment on the Cost of Goods Sold Account is on what side? debit or credit ?
Donna Company submits the following data for Маy 2013 Direct labor cost Purchases Factory overhead direct labor cost Inventories P180, 000 P200, 000 Applied at 110% of Мay Мау 31 Finished goods P324, 000 Work in Process P18, 000 Materials P18, 000 1 P55, 00 P75, 00 P132, 00 Actual factory overhead amounts to P180,000 1. How much is the Company's Cost of goods sold adjusted assuming over or under applied is closec to COGS? 2. If there are 10,000 units produced during the month, how much is the cost per unit of product? 3. How much is the adjustment posted on the Co: of Goods sold Account? 4. The posted adjustment on the Cost of Goods Sold Account is on what side? debit or credit ?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Donna Company submits the following data for
Маy 2013
Direct labor cost
Purchases
P180, 000
Р200, 000
Applied at 110% of
Factory overhead
direct labor cost
Inventories
1
May
May 31
Finished goods
P324, 000
Work in Process
Р18, 000
Materials
Р18, 000
P55,
000
P75,
000
P132,
00
Actual factory overhead amounts to P180,000
1. How much is the Company's Cost of goods sold
adjusted assuming over or under applied is closed
to COGS?
2. If there are 10,000 units produced during the
month, how much is the cost per unit of product?
3. How much is the adjustment posted on the Cost
of Goods sold Account?
4. The posted adjustment on the Cost of Goods
Sold Account is on what side? debit or credit ?
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