The following data have been taken from the accounting records of Company J for the just completed year: Sales P910,000 Raw materials - beginning 80,000 Raw materials - ending 20,000 Purchases of raw materials 100,000 Direct Labor 130,000 Manufacturing Overhead 200,000 Administrative Expense 160,000 Selling Expenses 140,000 Work in process - beginning 40,000 Work in process - ending 10,000 Finished goods inventory - beginning 130,000 Finished goods inventory - ending 150,000 The cost of goods sold for the year was: a.P670,000 b.650,000 c.P500,000 d.P540,000
The following data have been taken from the accounting records of Company J for the just completed year:
Sales P910,000
Raw materials - beginning 80,000
Raw materials - ending 20,000
Purchases of raw materials 100,000
Direct Labor 130,000
Manufacturing
Administrative Expense 160,000
Selling Expenses 140,000
Work in process - beginning 40,000
Work in process - ending 10,000
Finished goods inventory - beginning 130,000
Finished goods inventory - ending 150,000
The cost of goods sold for the year was:
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