Integrity Company’s Job 1088 manufactured 13,750 units that were completed in February at unit costs presented as follows: Direct materials- P300 Direct labor- 270 Factory overhead (includes an allowance of P15 spoiled work)- P270 Final inspection of Job 1088 disclosed 1,250 spoiled units, which were sold for P225,000. What would be the unit selling price if the spoilage is attributable to exacting specifications of Job 1088 and the entity maintain a gross profit of 50%?
Integrity Company’s Job 1088 manufactured 13,750 units that were completed in February at unit costs presented as follows: Direct materials- P300 Direct labor- 270 Factory overhead (includes an allowance of P15 spoiled work)- P270 Final inspection of Job 1088 disclosed 1,250 spoiled units, which were sold for P225,000. What would be the unit selling price if the spoilage is attributable to exacting specifications of Job 1088 and the entity maintain a gross profit of 50%?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Integrity Company’s Job 1088 manufactured 13,750 units that were completed in February at unit costs presented as follows:
Direct materials- P300
Direct labor- 270
Factory
Final inspection of Job 1088 disclosed 1,250 spoiled units, which were sold for P225,000.
What would be the unit selling price if the spoilage is attributable to exacting specifications of Job 1088 and the entity maintain a gross profit of 50%?
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