Samuel Manuel Co., a manufacturer, had inventories at the beginning and end of its current year as follows: Beginning: P11,000 P15,000 20,000 End Raw materials Work in process Finished goods 24,000 9,000 12,500 Raw materials purchased Direct labor cost Indirect factory labor Taxes and depreciation on factory building Taxes and depreciation on sales room and office During the year, the following costs and expenses were incurred: P 150,000 60,000 30,000 10,000 7,500 20,000 12,000 Sales salaries Office salaries Utilities (60% applicable to factory, 20% to sales room, and 20% to office) 25,000 Manuel's cost of goods sold for the year is a. P257,000 b. P260,500 C. P261,000 d. P269,500 499

Samuel Manuel Co., a manufacturer, had inventories at the beginning and end of its current year as follows: Beginning: P11,000 P15,000 20,000 End Raw materials Work in process Finished goods 24,000 9,000 12,500 Raw materials purchased Direct labor cost Indirect factory labor Taxes and depreciation on factory building Taxes and depreciation on sales room and office During the year, the following costs and expenses were incurred: P 150,000 60,000 30,000 10,000 7,500 20,000 12,000 Sales salaries Office salaries Utilities (60% applicable to factory, 20% to sales room, and 20% to office) 25,000 Manuel's cost of goods sold for the year is a. P257,000 b. P260,500 C. P261,000 d. P269,500 499

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

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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