answer letter f to j. PREPARE AN INCOME STATEMENTMARIE SWIFT Company reported the given information for the month of October:Inventories:Beginning EndingP36,000Raw materials P29,000Work in process P19,000Finished goods P55,000P21,000P53,000Additional information:Raw materials purchasesDirect labor costManufacturing overhead cost P64,000Selling expenseAdministrative expenseNet Salesunits producedP75,000P45,000P16,000P44,000P500,00020,000Determine the values of the following:a. operating profitb. manufacturing costc. cost of goods manufacturedd. period coste. operating expensef. cost of goods soldg. cost of product that is transferred to finished goodsh. raw materials usedi. gross profitj. total inventory cost reflected in the statement of financial positionk. raw materials available for useI. manufacturing cost per unitm. conversion costn. cost of goods placed in processo. prime cost

1. Cost of goods manufactured - Cost of Goods Manufactured is the total cost incurred to…

PREPARE AN INCOME STATEMENT MARIE SWIFT Company reported the given information for the month of October: Inventories: Raw materials P29,000 Work in process P19,000 Finished goods P55,000 Beginning Ending P36,000 P21,000 P53,000 Additional information: Raw materials purchases Direct labor cost P75,000 P45,000 Manufacturing overhead cost P64,000 P16,000 P44,000 P500,000 20,000 Selling expense Administrative expense Net Sales units produced Determine the values of the following: a. operating profit b. manufacturing cost c. cost of goods manufactured d. period cost e. operating expense f. cost of goods sold g. cost of product that is transferred to finished goods h. raw materials used i. gross profit j. total inventory cost reflected in the statement of financial position

PREPARE AN INCOME STATEMENT MARIE SWIFT Company reported the given information for the month of October: Inventories: Raw materials P29,000 Work in process P19,000 Finished goods P55,000 Beginning Ending P36,000 P21,000 P53,000 Additional information: Raw materials purchases Direct labor cost P75,000 P45,000 Manufacturing overhead cost P64,000 P16,000 P44,000 P500,000 20,000 Selling expense Administrative expense Net Sales units produced Determine the values of the following: a. operating profit b. manufacturing cost c. cost of goods manufactured d. period cost e. operating expense f. cost of goods sold g. cost of product that is transferred to finished goods h. raw materials used i. gross profit j. total inventory cost reflected in the statement of financial position

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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