The accounting records for 2022 of Natural Co. showed the following: Increase in raw materials inventory, P45,000; Decrease in finished goods inventory, P150,000; Raw materials purchases, P1,290,000; Direct labor payroll, P600,000; Factory overhead, P900,000; Decrease in work in process inventory, P80,000. How much is the cost of goods sold?

The accounting records for 2022 of Natural Co. showed the following: Increase in raw materials inventory, P45,000; Decrease in finished goods inventory, P150,000; Raw materials purchases, P1,290,000; Direct labor payroll, P600,000; Factory overhead, P900,000; Decrease in work in process inventory, P80,000. How much is the cost of goods sold?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 12EA: What are the total costs to account for if a companys beginning inventory had $231,432 in materials,...

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What are the total costs to account for if a companys beginning inventory had $231,432 in materials, $186,450 in conversion costs, and added direct material costs ($4,231,392), direct labor ($2,313,392), and manufacturing overhead ($1,156,696)?
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The accounting records for 2022 of Natural Co. showed the following: Increase in raw materials inventory, P45,000; Decrease in finished goods inventory, P150,000; Raw materials purchases, P1,290,000; Direct labor payroll, P600,000; Factory overhead, P900,000; Decrease in work in process inventory, P80,000. How much is the cost of goods manufactured?
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