Kyrie Company produces different sizes of basketballs. The following costs were incurred during the year. Materials P65,000 (P 15,000 is indirect) 70,000 (P 18,000 is indirect) 95,000 (including indirect materinls and indirect Inbor) 2,600 18,600 Labor Factory overhend General and administrative expenses Office salaries There were no work in process at the end of the year, 5,000 units were produced, and 90% of the units produced were sold Required: 1. Compute the prime costs 2. Compute the conversion costs 3. Compute the total product costs

Kyrie Company produces different sizes of basketballs. The following costs were incurred during the year. Materials P65,000 (P 15,000 is indirect) 70,000 (P 18,000 is indirect) 95,000 (including indirect materinls and indirect Inbor) 2,600 18,600 Labor Factory overhend General and administrative expenses Office salaries There were no work in process at the end of the year, 5,000 units were produced, and 90% of the units produced were sold Required: 1. Compute the prime costs 2. Compute the conversion costs 3. Compute the total product costs

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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