The following information relates to EAZ Company for the year ended December 31, 2018: Raw materials P200,000 Direct Labor 100,000 5,000 47,000 18,000 Indirect Materials Indirect Labor Factory utilities Factory rent Depreciation - Factory Equipment 36,000 24,000 960,000 120,000 240,000 Sales Selling Expenses Administrative expenses Income tax rate 30% January 1 P20,000 18,000 December 31 Raw Materials Inventory Work In Process Inventory Finished Goods Inventory P16,000 15,000 21,000 24,000 Required: 1. Calculate the Raw Materials Used 2. Prepare a schedule of goods manufactured. 3. Construct an income statement for the year ended December 31, 2018.

The following information relates to EAZ Company for the year ended December 31, 2018: Raw materials P200,000 Direct Labor 100,000 5,000 47,000 18,000 Indirect Materials Indirect Labor Factory utilities Factory rent Depreciation - Factory Equipment 36,000 24,000 960,000 120,000 240,000 Sales Selling Expenses Administrative expenses Income tax rate 30% January 1 P20,000 18,000 December 31 Raw Materials Inventory Work In Process Inventory Finished Goods Inventory P16,000 15,000 21,000 24,000 Required: 1. Calculate the Raw Materials Used 2. Prepare a schedule of goods manufactured. 3. Construct an income statement for the year ended December 31, 2018.

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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answer letter f to j.
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