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he following information is obtained from the company’s records for 2014: a. Total manufacturing costs, P8,000,000 b. Cost of finished goods manufactured, P7,920,000 c. Manufacturing overhead applied, P3,600,000 d. Manufacturing overhead was applied to production at a rate of 200% of direct labor costs e. The peso amount of work in process inventory on January 1, 2014 was P320,000. What is the peso amount of work in process inventory on December 31, 2014? a. P400,000 b. P800,000 c. P500,000 d. P320,000

he following information is obtained from the company’s records for 2014: a. Total manufacturing costs, P8,000,000 b. Cost of finished goods manufactured, P7,920,000 c. Manufacturing overhead applied, P3,600,000 d. Manufacturing overhead was applied to production at a rate of 200% of direct labor costs e. The peso amount of work in process inventory on January 1, 2014 was P320,000. What is the peso amount of work in process inventory on December 31, 2014? a. P400,000 b. P800,000 c. P500,000 d. P320,000

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter6: Cost-volume-profit Analysis
Section: Chapter Questions
Problem 2CMA
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he following information is obtained from the company’s records for 2014:
a. Total manufacturing costs, P8,000,000
b. Cost of finished goods manufactured, P7,920,000
c. Manufacturing overhead applied, P3,600,000
d. Manufacturing overhead was applied to production at a rate of 200% of direct labor
costs
e. The peso amount of work in process inventory on January 1, 2014 was P320,000.
What is the peso amount of work in process inventory on December 31, 2014?
a. P400,000
b. P800,000
c. P500,000
d. P320,000

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