3. Juan Manufacturing Company just started its operation in this year. After its first three months of operations, Thea Manufacturing Company had the following data on its operation (see given data below). Determine the amount of direct labor costs incurred for the period. > Cost of goods sold amounted to P450,000> Manufacturing costs were distributed as follows: 40% directmaterials used; 30% direct labor, 30% factory overhead> Work in process March 31 was 10% of the total manufacturingcosts> Finishes goods remaining in stock were 20% of the total costs ofgoods manufactured.

Name: 3. Juan Manufacturing Company just started its operation in this year.
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Description: 3. Juan Manufacturing Company just started its operation in this year. After its first three months of operations, Thea Manufacturing Company had the following data on its operation (see given data below). Determine the amount of direct labor costs i

>Direct labor cost is the part of Total manufacturing cost incurred in the production process.…

Business

Accounting

> Cost of goods sold amounted to P450,000 > Manufacturing costs were distributed as follows: 40% direct materials used; 30% direct labor, 30% factory overhead > Work in process March 31 was 10% of the total manufacturing costs > Finishes goods remaining in stock were 20% of the total costs of goods manufactured.

> Cost of goods sold amounted to P450,000 > Manufacturing costs were distributed as follows: 40% direct materials used; 30% direct labor, 30% factory overhead > Work in process March 31 was 10% of the total manufacturing costs > Finishes goods remaining in stock were 20% of the total costs of goods manufactured.

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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