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The following were taken from the books of Marvin Company. January 1 March 31 Raw materials P 268,000 P 167,000 Work in process Finished goods P 43,000 Raw materials purchased Direct labor Factory overhead Sales (100 units) (200 units) P1,946,700 P2,125,800 P 764,000 (12,400 units at P535) The company uses the FIFO method for costing inventories. The cost of goods manufactured per unit is:

The following were taken from the books of Marvin Company. January 1 March 31 Raw materials P 268,000 P 167,000 Work in process Finished goods P 43,000 Raw materials purchased Direct labor Factory overhead Sales (100 units) (200 units) P1,946,700 P2,125,800 P 764,000 (12,400 units at P535) The company uses the FIFO method for costing inventories. The cost of goods manufactured per unit is:

FINANCIAL ACCOUNTING
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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The following were taken from the books of Marvin Company. January 1 P 268,000 P 167,000 March 31 Raw materials Work in process Finished goods P 43,000 (100 units) (200 units) P1,946,700 P2,125,800 P 764,000 (12,400 units at P535) Raw materials purchased Direct labor Factory overhead Sales The company uses the FIFO method for costing inventories. The cost of goods manufactured per unit is:
Transcribed Image Text:The following were taken from the books of Marvin Company. January 1 P 268,000 P 167,000 March 31 Raw materials Work in process Finished goods P 43,000 (100 units) (200 units) P1,946,700 P2,125,800 P 764,000 (12,400 units at P535) Raw materials purchased Direct labor Factory overhead Sales The company uses the FIFO method for costing inventories. The cost of goods manufactured per unit is:
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