The balance in Branch Co.'s Work in Process inventory account was P15,000 on June 1 and P18,000 on June 30. The company incurred P30,000 in direct labor cost during June. Branch also issued P25,000 of direct materials to production. Total debits to the Manufacturing Overhead account are P28,000 during June while total credits are P30,000. Which of the following statements is true? *

The balance in Branch Co.'s Work in Process inventory account was P15,000 on June 1 and P18,000 on June 30. The company incurred P30,000 in direct labor cost during June. Branch also issued P25,000 of direct materials to production. Total debits to the Manufacturing Overhead account are P28,000 during June while total credits are P30,000. Which of the following statements is true? *

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6PB: During the year, a company purchased raw materials of $77,321 and incurred direct labor costs of...

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