MCvariance?PROBLEM 5Isko Corporation has the following budgetestimate for the year 2020:SalesP2,800,000Income before tax10% of salesSelling &25% of salesAdministrativeExpensesConversion cost70% of totalmanufacturing costInventories are budgeted as follows:BeginningEndingMaterialsP176,000P216,000Work-in-200,000240,000processFinished280,000336,000spooß19. How much is the budgeted cost ofgoods sold?20. How much is the budgeted purchasesof raw matera21. Howuch is total conversion costs? This document contains ink, shapes an...PROBLEM 4Ping Corporation is preparing its factoryoverhead cost budget for the third quarterof 2020. The management plans toproduce 200,000 units for the said quarter.Past experience has shown that thecompany's product is produced at the rateof 4 units per hour. Variable rates perdirect labor hour are as follows:Indirect materials andP 0.76suppliesPower1.36Repairs and maintenance2.80Other variable overhead0.96TotalP 5.88Total fixed overhead costs is budgeted atP147,200. For product costing purposes, afixed factory overhead rate of P3.20 perdirect labor hour has been established.16. How much is the total budgetedfactory overhead for the quarter?17. How much isthe total factoryoverhead cost per unit of product?18. How much is the expected capacityvariance?

Name: MCvariance?PROBLEM 5Isko Corporation has the following budgetestimate
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Description: MCvariance?PROBLEM 5Isko Corporation has the following budgetestimate for the year 2020:SalesP2,800,000Income before tax10% of salesSelling &25% of salesAdministrativeExpensesConversion cost70% of totalmanufacturing costInventories are budgeted as f

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PROBLEM 5 Isko Corporation has the following budget estimate for the year 2020: Sales P2,800,000 Income before tax 10% of sales 25% of sales Selling & Administrative Expenses Conversion cost 70% of total manufacturing cost Inventories are budgeted as follows: Beginning P176,000 Ending P216,000 240,000 Materials Work-in- 200,000 process Finished 280,000 336,000 spoob 19. How much is the budgeted cost of goods sold? 20. How much is the budgeted purchases of raw matera 21. Howuch is total conversion costs?

PROBLEM 5 Isko Corporation has the following budget estimate for the year 2020: Sales P2,800,000 Income before tax 10% of sales 25% of sales Selling & Administrative Expenses Conversion cost 70% of total manufacturing cost Inventories are budgeted as follows: Beginning P176,000 Ending P216,000 240,000 Materials Work-in- 200,000 process Finished 280,000 336,000 spoob 19. How much is the budgeted cost of goods sold? 20. How much is the budgeted purchases of raw matera 21. Howuch is total conversion costs?

FINANCIAL ACCOUNTING

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ISBN:9781259964947

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Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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