ABC Company uses a backflush costing system with three trigger points: Purchase of direct materials Completion of finished units Sale of finished units The following data are provided for April 2022: Purchase of raw materials - P3,000,000 Conversion costs incurred - P800,000 Standard direct material cost is P100 per unit while standard conversion cost is P25 per unit. ABC Company produced 28,500 units and was able to sell 28,300 units. How much is the ending Finished Goods as of the end of April?
ABC Company uses a backflush costing system with three trigger points: Purchase of direct materials Completion of finished units Sale of finished units The following data are provided for April 2022: Purchase of raw materials - P3,000,000 Conversion costs incurred - P800,000 Standard direct material cost is P100 per unit while standard conversion cost is P25 per unit. ABC Company produced 28,500 units and was able to sell 28,300 units. How much is the ending Finished Goods as of the end of April?
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter2: Basic Managerial Accounting Concepts
Section: Chapter Questions
Problem 39E: Cost Classification Loring Company incurred the following costs last year: Required: 1. Classify...
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ABC Company uses a backflush costing system with three trigger points:
- Purchase of direct materials
- Completion of finished units
- Sale of finished units
The following data are provided for April 2022:
- Purchase of raw materials - P3,000,000
- Conversion costs incurred - P800,000
Standard direct material cost is P100 per unit while
How much is the ending Finished Goods as of the end of April?
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