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Kim Company provided the following information for the current year: Increase in raw materials inventory - P150,000 Decrease in goods in process inventory - P200,000 Decrease in finished goods inventory - P350,000 Raw materials purchased - P4,300,000 Direct labor payroll - P2,000,000 Factory overhead - P3,000,000 Freight out - P450,000 Freight in P250,000 What is the cost of goods sold for the current year?

Kim Company provided the following information for the current year: Increase in raw materials inventory - P150,000 Decrease in goods in process inventory - P200,000 Decrease in finished goods inventory - P350,000 Raw materials purchased - P4,300,000 Direct labor payroll - P2,000,000 Factory overhead - P3,000,000 Freight out - P450,000 Freight in P250,000 What is the cost of goods sold for the current year?

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 23E: Orinder Company provided the following information for the last calendar year: During the year,...
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Kim Company provided the following information for the current year: Increase in raw materials inventory - P150,000 Decrease in goods in process inventory - P200,000 Decrease in finished goods inventory - P350,000 Raw materials purchased - P4,300,000 Direct labor payroll - P2,000,000 Factory overhead - P3,000,000 Freight out - P450,000 Freight in P250,000 What is the cost of goods sold for the current year? A P9,250,000 B P9,550,000 P9,950,000 P9,150,000
Transcribed Image Text:Kim Company provided the following information for the current year: Increase in raw materials inventory - P150,000 Decrease in goods in process inventory - P200,000 Decrease in finished goods inventory - P350,000 Raw materials purchased - P4,300,000 Direct labor payroll - P2,000,000 Factory overhead - P3,000,000 Freight out - P450,000 Freight in P250,000 What is the cost of goods sold for the current year? A P9,250,000 B P9,550,000 P9,950,000 P9,150,000
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