Shark Company purchased inventory from Dolphin Corporation for P120,000 on October 4, 2020, and resold 80% to outsider before er the year, for P140,000. Dove manufactured the inventory sold to Sh the following costs: Direct materials -P40,000, Direct labor -P20,00 Overhead-applied at 75% of direct labor costs. Shark owns 70% of Dolphin. Assume that there are no other transactions occur during How much is the consolidated sales?

Shark Company purchased inventory from Dolphin Corporation for P120,000 on October 4, 2020, and resold 80% to outsider before er the year, for P140,000. Dove manufactured the inventory sold to Sh the following costs: Direct materials -P40,000, Direct labor -P20,00 Overhead-applied at 75% of direct labor costs. Shark owns 70% of Dolphin. Assume that there are no other transactions occur during How much is the consolidated sales?

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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