The following cost data relate to the manufacturing activities of the Kamas Company during the most recentyear. Factory overhead costa incurred during the year:P 1,6002,6005,10013.0002,500P24,800Property taxes - factoryUtilities - factoryIndirect laborDepreciation - factoryInsurance - factoryTotal Actual FOH costsOther costa incurred during the year:Purchases of raw materialsDirect labor costP15,000Inventoriea:Raw materials, beginningRaw materiala, endingWork-in-process, beginningWork-in -process, endingP5,0004,4003,5004,500The company uses a predetermined overhead rate to charge overhend cost to production. The rate for theyear just completed was P4.00 per machine-hour; a total of 6,000 machine-hours wRre recorded for theyear. Compute for the cost of goods manufactured for the vear.

By adding cost of raw material consumed and direct labor cost we get prime cost and then by adding…

The following cost data relate to the manufacturing activities of the Kamas Company during the most recent year. Factory overhead coata incurred during the year: Property taxes - factory Utilities - factory Indirect labor Depreciation - factory Insurance - factory Total Actual FOH costs P 1,600 2,600 5,100 13,000 2,500 P24,800 Other costa incurred during the year: Purchases of raw materials Direct labor cost P15,000 22,000 Inventoriea: Raw materials, beginning Raw materials, ending Work-in-process, beginning Work-in-procesa, ending P5,000 4,400 3,500 4,500 The company uses a predetermined overhead rate to charge overhead cost to production. The rate for the year just completed was P4.00 per machine-hour; a total of 6,000 machine-hours gere recorded for the year. Compute for the cost of goods manufactured for the year.

The following cost data relate to the manufacturing activities of the Kamas Company during the most recent year. Factory overhead coata incurred during the year: Property taxes - factory Utilities - factory Indirect labor Depreciation - factory Insurance - factory Total Actual FOH costs P 1,600 2,600 5,100 13,000 2,500 P24,800 Other costa incurred during the year: Purchases of raw materials Direct labor cost P15,000 22,000 Inventoriea: Raw materials, beginning Raw materials, ending Work-in-process, beginning Work-in-procesa, ending P5,000 4,400 3,500 4,500 The company uses a predetermined overhead rate to charge overhead cost to production. The rate for the year just completed was P4.00 per machine-hour; a total of 6,000 machine-hours gere recorded for the year. Compute for the cost of goods manufactured for the year.

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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