The following accounts of ABC Manufacturing Co. appeared in its balance sheets on December 31, 2013 and December 31, 2014: Materials inventory Work in process inventory Finished goods inventory 2013 P60,000 34,000 46,000 Materials used Cost of goods sold Direct labor Indirect labor The following amounts appeared in the company's statement of comprehensive income for 2014: P 600,000 1,840,000 410,000 140,000 2014 P90,000 35,000 36,000 REQUIREMENT: Compute for the: a) Amount of raw materials purchased b) Cost of goods manufactured
The following accounts of ABC Manufacturing Co. appeared in its balance sheets on December 31, 2013 and December 31, 2014: Materials inventory Work in process inventory Finished goods inventory 2013 P60,000 34,000 46,000 Materials used Cost of goods sold Direct labor Indirect labor The following amounts appeared in the company's statement of comprehensive income for 2014: P 600,000 1,840,000 410,000 140,000 2014 P90,000 35,000 36,000 REQUIREMENT: Compute for the: a) Amount of raw materials purchased b) Cost of goods manufactured
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 6PB: During the year, a company purchased raw materials of $77,321 and incurred direct labor costs of...
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![The following accounts of ABC Manufacturing Co. appeared in
its balance sheets on December 31, 2013 and December 31,
2014:
Materials inventory
Work in process inventory
Finished goods inventory
2013
P60,000
34,000
46,000
Materials used
Cost of goods sold
Direct labor
Indirect labor
The following amounts appeared in the company's statement
of comprehensive income for 2014:
P 600,000
1,840,000
410,000
140,000
2014
P90,000
35,000
36,000
REQUIREMENT: Compute for the:
a) Amount of raw materials purchased
b) Cost of goods manufactured](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff15b0d8d-215a-468b-94bf-43af1b74d1d1%2Fe056d539-1463-4337-96b5-fd20351c006a%2Fo453ij_processed.png&w=3840&q=75)
Transcribed Image Text:The following accounts of ABC Manufacturing Co. appeared in
its balance sheets on December 31, 2013 and December 31,
2014:
Materials inventory
Work in process inventory
Finished goods inventory
2013
P60,000
34,000
46,000
Materials used
Cost of goods sold
Direct labor
Indirect labor
The following amounts appeared in the company's statement
of comprehensive income for 2014:
P 600,000
1,840,000
410,000
140,000
2014
P90,000
35,000
36,000
REQUIREMENT: Compute for the:
a) Amount of raw materials purchased
b) Cost of goods manufactured
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