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

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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