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Required: 2 points each 1. Compute prime cost 2. Compute conversion cost 3. Compute total production cost 4. Compute total period cost 5. If the selling price is Php 50.00 compute net income

Required: 2 points each 1. Compute prime cost 2. Compute conversion cost 3. Compute total production cost 4. Compute total period cost 5. If the selling price is Php 50.00 compute net income

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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Problem 3 Kyrie Company produces different sizes of basketballs. The following costs were incurred during the year. Materials Php 65,000.00 (Php 15,000.00 is indirect) Php 70,000.00 (Php 18,000.00 is indirect) Php 95,000.00 (including indirect materials and indirect Labor Factory overhead labor) Unit Produced 1,000 Sold 800 General and administrative expense Php 2,600.00 Office Salaries Php 18,600.00 Required: 2 points each 1. Compute prime cost 2. Compute conversion cost 3. Compute total production cost 4. Compute total period cost 5. If the selling price is Php 50.00 compute net income
Transcribed Image Text:Problem 3 Kyrie Company produces different sizes of basketballs. The following costs were incurred during the year. Materials Php 65,000.00 (Php 15,000.00 is indirect) Php 70,000.00 (Php 18,000.00 is indirect) Php 95,000.00 (including indirect materials and indirect Labor Factory overhead labor) Unit Produced 1,000 Sold 800 General and administrative expense Php 2,600.00 Office Salaries Php 18,600.00 Required: 2 points each 1. Compute prime cost 2. Compute conversion cost 3. Compute total production cost 4. Compute total period cost 5. If the selling price is Php 50.00 compute net income
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