The following information are taken from Pineapple Co. accounting records for the current period: • Decrease in raw materials inventory- P500,000 • Direct labor payroll- P5,000,000 • Increase in goods in process inventory- P800,000 • Factory overhead- P4,000,000 • Decrease in finished goods inventory- P1,000,000 • Freight out- P1,500,000 • Raw materials purchased- P20,000,000 • Freight in- P2,300,000 What is the cost of goods sold for the current year?

The following information are taken from Pineapple Co. accounting records for the current period: • Decrease in raw materials inventory- P500,000 • Direct labor payroll- P5,000,000 • Increase in goods in process inventory- P800,000 • Factory overhead- P4,000,000 • Decrease in finished goods inventory- P1,000,000 • Freight out- P1,500,000 • Raw materials purchased- P20,000,000 • Freight in- P2,300,000 What is the cost of goods sold for the current year?

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 1CP

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