D Company reported the following information for the year: Ending work-in- process inventory P4,000 Beginning work-in-process inventory P3,000 Factory overhead P5,100 Direct labor cost P7,000 Direct materials used P5,000 Manufacturing costs added to work-in-process inventory were: O P12,000 O P17,100 O P16,100 O P13,600

D Company reported the following information for the year: Ending work-in- process inventory P4,000 Beginning work-in-process inventory P3,000 Factory overhead P5,100 Direct labor cost P7,000 Direct materials used P5,000 Manufacturing costs added to work-in-process inventory were: O P12,000 O P17,100 O P16,100 O P13,600

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 12EA: What are the total costs to account for if a companys beginning inventory had $231,432 in materials,...

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What are the total costs to account for if a companys beginning inventory had $231,432 in materials, $186,450 in conversion costs, and added direct material costs ($4,231,392), direct labor ($2,313,392), and manufacturing overhead ($1,156,696)?
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During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of $125,900. Overhead is applied at the rate of 75% of the direct labor cost. These are the inventory balances: Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold.
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