8. x Company provides the following data for 2019:12/31/201812/31/2019Inventories:Raw materials*P 12,000P 23,500Work in processFinished goodsOperating data:Cost of goods sold15,10017,60019,50021,200149,200Direct labor cost50,000Factory overhead cost (utility only)62,500Indirect materials cost5,000Indirect labor cost2,000*Consisting of both direct and indirect.The cost of raw materials purchases for 2019 is?

Solution: Cost of goods manufactured = Cost of goods sold + Ending inventory - Beginning inventory…

x Company provides the following data for 2019: 12/31/2018 12/31/2019 Inventories: P 12,000 P 23,500 Raw materials* Work in process Finished goods 15,100 17,600 19,500 21,200 Operating data: Cost of goods sold 149,200 50,000 Direct labor cost Factory overhead cost (utility only) 62,500 Indirect materials cost 5,000 Indirect labor cost 2,000 *Consisting of both direct and indirect. The cost of raw materials purchases for 2019 is?

x Company provides the following data for 2019: 12/31/2018 12/31/2019 Inventories: P 12,000 P 23,500 Raw materials* Work in process Finished goods 15,100 17,600 19,500 21,200 Operating data: Cost of goods sold 149,200 50,000 Direct labor cost Factory overhead cost (utility only) 62,500 Indirect materials cost 5,000 Indirect labor cost 2,000 *Consisting of both direct and indirect. The cost of raw materials purchases for 2019 is?

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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