JJ Company has a cycle time of 4 days, uses Raw and In Process account (RIP) and expenses all conversion costs to Cost of Goods Sold. At the end of each month, all inventories are counted; their conversion components are estimated and inventory account balances are adjusted accordingly. Raw materials is backflushed from RIP to Finished Goods. The following information is for the month of October: RIP beginning, including P10,000 of conversion cost, P35,000; FG beginning, including P6,800 of conversion cost; P30,000; Raw materials purchased on account, P225,000; RIP end, including P13,700 of conversion cost, P23,500; FG end, including P11,100 of conversion cost, P14,800. Direct labor P175,000; Factory overhead P220,000. What is the amount of materials backflushed from RIP to FG? P225,000 p259,700 P240,200 P220,000
JJ Company has a cycle time of 4 days, uses Raw and In Process account (RIP) and expenses all conversion costs to Cost of Goods Sold. At the end of each month, all inventories are counted; their conversion components are estimated and inventory account balances are adjusted accordingly. Raw materials is backflushed from RIP to Finished Goods. The following information is for the month of October: RIP beginning, including P10,000 of conversion cost, P35,000; FG beginning, including P6,800 of conversion cost; P30,000; Raw materials purchased on account, P225,000; RIP end, including P13,700 of conversion cost, P23,500; FG end, including P11,100 of conversion cost, P14,800. Direct labor P175,000; Factory overhead P220,000. What is the amount of materials backflushed from RIP to FG?
P225,000
p259,700
P240,200
P220,000
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