Kyrie Company produces different sizes of basketballs. The following costs wereincurred during the year.MaterialsLaborFactory overheadP65,000 (P 15,000 is indirect)70,000 (P 18,000 is indirect)95,000 (including indirect materinlsand indirect Iabor) ·2,60018,600General and administrative expensesOffice salariesThere were no work in process at the end of the year, 5,000 units were produced,and 90% of the units produced were soldRequired:1. Compute the prime costs2. Compute the conversion costs3. Compute the total product costs4. Compute the total period costs5. If the selling price is P50.00, how much is the net income 4. Total period costProblem 7P 200 per unitSales priceFixed costs:Marketing and administrativeManufacturing overheadVariable costs:Marketing and administrativeManufacturing overhead24,000 per period30,000 per period6 per unit9 per unit30 per unit60 per unit1,200 per periodDirect laborDirect materialsUnits produced and soldRequired: Compute for the followirtg1. Variable manufacturing cost per unit2. Variable cost per unit3. Full manufacturing cost per unit4. Full cost to make and Sell per unit

Name: Kyrie Company produces different sizes of basketballs. The following
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Description: Kyrie Company produces different sizes of basketballs. The following costs wereincurred during the year.MaterialsLaborFactory overheadP65,000 (P 15,000 is indirect)70,000 (P 18,000 is indirect)95,000 (including indirect materinlsand indirect Iabor)

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Kyrie Company produces different sizes of basketballs. The following costs were incurred during the year. Materials Labor Factory overhead P65,000 (P 15,000 is indirect) 70,000 (P 18,000 is indirect) 95,000 (including indirect materials and indirect Iabor) 2,600 18,600 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 Labor Factory overhead P65,000 (P 15,000 is indirect) 70,000 (P 18,000 is indirect) 95,000 (including indirect materials and indirect Iabor) 2,600 18,600 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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