Data pertaining to Lakers Co.’s manufacturing operations:INVENTORIES April 1, 20X1 April 30, 20X1Raw Materials₱18,000₱15,000Work-in-Process₱09,000₱06,000Finished Goods₱27,000₱36,000Additional Information:Direct materials purchased ₱42,000Direct labor payroll₱30,000Direct labor rate per hour₱ 07.50Factory overhead rate per direct labor hours₱ 10.00What is the cost of goods sold for April?Group of answer choices₱115,000₱109,000₱118,000₱106,000

Cost of goods sold (COGS): The cost of goods sold budget shows the expenses incurred for producing a…

Answered: Data pertaining to Lakers Co.’s…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

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Data pertaining to Lakers Co.’s manufacturing operations:

INVENTORIES	April 1, 20X1	April 30, 20X1
Raw Materials	₱18,000	₱15,000
Work-in-Process	₱09,000	₱06,000
Finished Goods	₱27,000	₱36,000

Additional Information:

Direct materials purchased	₱42,000
Direct labor payroll	₱30,000
Direct labor rate per hour	₱ 07.50
Factory overhead rate per direct labor hours	₱ 10.00

What is the cost of goods sold for April?

Group of answer choices

₱115,000

₱109,000

₱118,000

₱106,000

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