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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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Hi, Kindly answer no. 5, 6 and 7. Thank you :)

Questions 2-7 are based iln the following information: BUHAY Manufacturing Co., has the following data: inventories 1-Jun 30-Jun Raw materials 123,000 187,954 Work in process 324,020 576,691 Finished goods 598,321 793,639 Equipment parts and supplies 89.300 112,729 Other data for the month of June Purchases 412,860 Direct labor 214,108 Direct labor man hours 16,470 Overhead per direct labor man hour P5.50 2 Raw materials used in production amounted to P 383,566 P 365,301 P 347,906 d. P 382,697 a Prime cost added to production is P 562,014 ь Р 606,975 P 594,836 P 582,939 a 4 Conversion added to production is p 345,693 b P 368,693 P 304,693 P 652,599 a Total cost of goods placed in process is P 925,450 P 976,619 P 908,256 P 844,678 a 6 Cost of goods manufactured is P 419,924 P 399,928 P 371,933 d. P 345,898 a 7 Cost of goods sold is P 204,610 P 190,287 P 176,967 d. P 164,579 a
Transcribed Image Text:Questions 2-7 are based iln the following information: BUHAY Manufacturing Co., has the following data: inventories 1-Jun 30-Jun Raw materials 123,000 187,954 Work in process 324,020 576,691 Finished goods 598,321 793,639 Equipment parts and supplies 89.300 112,729 Other data for the month of June Purchases 412,860 Direct labor 214,108 Direct labor man hours 16,470 Overhead per direct labor man hour P5.50 2 Raw materials used in production amounted to P 383,566 P 365,301 P 347,906 d. P 382,697 a Prime cost added to production is P 562,014 ь Р 606,975 P 594,836 P 582,939 a 4 Conversion added to production is p 345,693 b P 368,693 P 304,693 P 652,599 a Total cost of goods placed in process is P 925,450 P 976,619 P 908,256 P 844,678 a 6 Cost of goods manufactured is P 419,924 P 399,928 P 371,933 d. P 345,898 a 7 Cost of goods sold is P 204,610 P 190,287 P 176,967 d. P 164,579 a
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