Integrity CORP uses job order costing. At Jan 31, only Job 101 was the only job in process with accumulated cost of P9,000 (Direct materials is P4,000 and applied overhead of P3,000). Factory overhead is applied based on direct labor cost. At Jan 1, only Job 100 is still in process with total cost of P5,000. During January, Job 101, Job 102, Job 103, Job 104, Job 105, Job 106, Job 107 and Job 108 were put into process by the company. Total Raw materials purchased is P 120,000. Raw materials increased by P9,000. Total direct labor cost, net of withholding tax of P10,000, was P 100,000. Actual overhead incurred includes indirect materials of P5,000, indirect labor of P5,000 and other overhead cost amounted to P 153,000.
If finished goods inventory decreased by P20,000 and any under-over applied overhead is immaterial, what is the adjusted cost of goods sold?
Choices:
