P7-3 Johnson Textiles Company employs Just in Time operating system with backflush costing, During the month of July Direct material costing P505,000 was used for completed work with conversion cost of P700,000. At the end of the month P200,000 was assigned to work in process inventory account. Finished goods inventory ending balance was P230,000. Required: Computer for the following: а. Amount charged to cost of goods sold b. Ending balance of cost of goods sold
P7-3 Johnson Textiles Company employs Just in Time operating system with backflush costing, During the month of July Direct material costing P505,000 was used for completed work with conversion cost of P700,000. At the end of the month P200,000 was assigned to work in process inventory account. Finished goods inventory ending balance was P230,000. Required: Computer for the following: а. Amount charged to cost of goods sold b. Ending balance of cost of goods sold
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 6PA: During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of...
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