18. On December 1, the Amor Company had the following inventories; materi- ais, P24,000; work in process, P12,000; and finished goods, P36,000. Dur- ing the month, materials purchases totaled P56,000. Direct labor for De- cember was P40,000, at a uniform wage of P6.40 per hour. Marketing and administrative expenses for the month amounted to 10% of net sales. In- ventories on December 31, were as follows: materials, P20,000; work in process, P8,000; and finished goods, P40,000. Net sales for December to- taled P200,000. Factory overhead is applied on the basis of P8 per labor hour. direct
18. On December 1, the Amor Company had the following inventories; materi- ais, P24,000; work in process, P12,000; and finished goods, P36,000. Dur- ing the month, materials purchases totaled P56,000. Direct labor for De- cember was P40,000, at a uniform wage of P6.40 per hour. Marketing and administrative expenses for the month amounted to 10% of net sales. In- ventories on December 31, were as follows: materials, P20,000; work in process, P8,000; and finished goods, P40,000. Net sales for December to- taled P200,000. Factory overhead is applied on the basis of P8 per labor hour. direct
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...
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