44 ABC Company uses a backflush costing system with three trigger points: Purchase of direct materials Completion of finished units Sale of finished units The following data are provided for April 2022: Purchase of raw materials – P3,000,000 Conversion costs incurred – P800,000 Standard direct material cost is P100 per unit while standard conversion cost is P25 per unit. ABC Company produced 28,500 units and was able to sell 28,300 units. How much is the Raw and In Process account as of the end of April?
44 ABC Company uses a backflush costing system with three trigger points: Purchase of direct materials Completion of finished units Sale of finished units The following data are provided for April 2022: Purchase of raw materials – P3,000,000 Conversion costs incurred – P800,000 Standard direct material cost is P100 per unit while standard conversion cost is P25 per unit. ABC Company produced 28,500 units and was able to sell 28,300 units. How much is the Raw and In Process account as of the end of April?
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter2: Accounting For Materials
Section: Chapter Questions
Problem 17E: Davis Co. uses backflush costing to account for its manufacturing costs. The trigger points are the...
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44
ABC Company uses a backflush costing system with three trigger points:
- Purchase of direct materials
- Completion of finished units
- Sale of finished units
The following data are provided for April 2022:
- Purchase of raw materials – P3,000,000
- Conversion costs incurred – P800,000
Standard direct material cost is P100 per unit while
How much is the Raw and In Process account as of the end of April?
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