In July 2020, ABC Co. computed its equivalent unit costs under FIFO process costing as follows: Direct material P10 Direct labor 30 Packaging 20 Manufacturing overhead 15 Direct material and packaging are added at the start and end of processing, respectively. Beginning inventory cost was P500,000 and consisted of: • P100,000 direct material cost for 60,000 EUP; • P250,000 direct labor cost for 24,000 EUP; and • P150,000 manufacturing overhead cost 18,000 EUP. ABC Co. transferred a total of 500,000 units to finished goods during July and had 20,000 units in ending WIP inventory. The ending inventory units were 25 percent complete as to

In July 2020, ABC Co. computed its equivalent unit costs under FIFO process costing as follows: Direct material P10 Direct labor 30 Packaging 20 Manufacturing overhead 15 Direct material and packaging are added at the start and end of processing, respectively. Beginning inventory cost was P500,000 and consisted of: • P100,000 direct material cost for 60,000 EUP; • P250,000 direct labor cost for 24,000 EUP; and • P150,000 manufacturing overhead cost 18,000 EUP. ABC Co. transferred a total of 500,000 units to finished goods during July and had 20,000 units in ending WIP inventory. The ending inventory units were 25 percent complete as to

Name: What was the total cost of ending inventory? In July 2020, ABC Co. com
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Description: What was the total cost of ending inventory? In July 2020, ABC Co. computed its equivalent unit costs under FIFO process costing asfollows:Direct material P10Direct labor 30Packaging 20Manufacturing overhead 15Direct material and packaging are added

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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Similar questions

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