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The following were taken from the books of Nona Company. January 1 P 268,000 March 31 P 167,000 Raw materials Work in process Finished goods 43,000 (100 units) (300 units) P1,847,700 2,125,800 1,026,500 (12,300 units at P535.000). Direct materials used Direct labor Factory overhead Sales 00008 he company uses the FIFO method of costing inventories. equirements: 1. The number of units manufactured 2. The cost of goods manufactured per unit 3. The cost of goods sold

The following were taken from the books of Nona Company. January 1 P 268,000 March 31 P 167,000 Raw materials Work in process Finished goods 43,000 (100 units) (300 units) P1,847,700 2,125,800 1,026,500 (12,300 units at P535.000). Direct materials used Direct labor Factory overhead Sales 00008 he company uses the FIFO method of costing inventories. equirements: 1. The number of units manufactured 2. The cost of goods manufactured per unit 3. The cost of goods sold

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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Problem 10

Problem 10 The following were taken from the books of Nona Company. January 1 P 268,000 March 31 P 167,000 Raw materials Work in process Finished goods 43,000 (100 units) (300 units) P1,847,700 2,125,800 1,026,500 (12,300 units at P535.000) Direct materials used Direct labor Factory overhead Sales The company uses the FIFO method of costing inventories. Requirements: 1. The number of units manufactured 2. The cost of goods manufactured per unit 3. The cost of goods sold
Transcribed Image Text:Problem 10 The following were taken from the books of Nona Company. January 1 P 268,000 March 31 P 167,000 Raw materials Work in process Finished goods 43,000 (100 units) (300 units) P1,847,700 2,125,800 1,026,500 (12,300 units at P535.000) Direct materials used Direct labor Factory overhead Sales The company uses the FIFO method of costing inventories. Requirements: 1. The number of units manufactured 2. The cost of goods manufactured per unit 3. The cost of goods sold
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