P2-1 Orange Company showed the following information as of June 1, 2015: Raw materials inventory Goods in process inventory Finished goods P 320,000 400,000 350,000 During the month of June, the following were incurred: Materials purchased P 170,000 Materials used 200,000 Direct labor 400,000 Factory overhead 210,000 After reviewing the quantities on hand, ending inventories were: Goods in process inventory P 280,000 Finished goods 430,000 Required: Calculate the following: Raw materials inventory as of June 30, 2015 a. b. Total goods manufactured during the month C. Goods available for sale d. Cost of goods sold

P2-1 Orange Company showed the following information as of June 1, 2015: Raw materials inventory Goods in process inventory Finished goods P 320,000 400,000 350,000 During the month of June, the following were incurred: Materials purchased P 170,000 Materials used 200,000 Direct labor 400,000 Factory overhead 210,000 After reviewing the quantities on hand, ending inventories were: Goods in process inventory P 280,000 Finished goods 430,000 Required: Calculate the following: Raw materials inventory as of June 30, 2015 a. b. Total goods manufactured during the month C. Goods available for sale d. Cost of goods sold

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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