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Planned sales volume for 2009 is 12,400 units and each unit requires the following prime costs: Direct Materials 3 lbs @ P2 Direct Labor 2 hrs @ P25 The regression equation for factory overhead is y = P 50,000 + P 0.80 (direct labor hours). Budgeted inventory end of the product is 300 units.  There are 200 units in inventory beginning costing P 70. How much is the total production cost for the period? a. P 1,950,000 b. P 194,000 c. P 219,000 d. P 195,000  How much should be the budgeted cost of goods sold? a. P 186,240 b. P 188,240 c. P 184,720 d. P 182,720  How much should be the budgeted finished goods inventory end? a. P 23,280 b. P21,000 c. P 14,000 d. P 10,820

Planned sales volume for 2009 is 12,400 units and each unit requires the following prime costs: Direct Materials 3 lbs @ P2 Direct Labor 2 hrs @ P25 The regression equation for factory overhead is y = P 50,000 + P 0.80 (direct labor hours). Budgeted inventory end of the product is 300 units.  There are 200 units in inventory beginning costing P 70. How much is the total production cost for the period? a. P 1,950,000 b. P 194,000 c. P 219,000 d. P 195,000  How much should be the budgeted cost of goods sold? a. P 186,240 b. P 188,240 c. P 184,720 d. P 182,720  How much should be the budgeted finished goods inventory end? a. P 23,280 b. P21,000 c. P 14,000 d. P 10,820

FINANCIAL ACCOUNTING
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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Planned sales volume for 2009 is 12,400 units and each unit requires the following prime costs:

Direct Materials 3 lbs @ P2
Direct Labor 2 hrs @ P25

The regression equation for factory overhead is y = P 50,000 + P 0.80 (direct labor hours).
Budgeted inventory end of the product is 300 units. 
There are 200 units in inventory beginning costing P 70.

How much is the total production cost for the period?
a. P 1,950,000 b. P 194,000 c. P 219,000 d. P 195,000

 How much should be the budgeted cost of goods sold?
a. P 186,240 b. P 188,240 c. P 184,720 d. P 182,720

 How much should be the budgeted finished goods inventory end?
a. P 23,280 b. P21,000 c. P 14,000 d. P 10,820 

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