Required:11. Cost of goods sold.12. Cost of goods manufactured.13. Raw materials inventory August 31. Problem 4The following data were taken from the records of Quezon Company:InventoriesSeptember 30P50,000August 31Raw materials?Work in processP80,00095,00078,000Finished goods60,000Raw materials purchases, P46,000.Factory overhead, 75% of direct labor cost, P63,000.Selling and administrative expenses, 12.5% of sales, P25,000.Net income for September, P25,000.Required:11. Cost of goods sold.12. Cost of goods manufactured.13. Raw materials inventory August 31.

Answered: Image /qna-images/answer/b90ed495-f50e-415f-8a4e-8de4fd30f4ec.jpg

The following data were taken from the records of Quezon Company: Inventories September 30 P50,000 August 31 Raw materials Work in process Finished goods P80,000 95,000 60,000 78,000 Raw materials purchases, P46,000. Factory overhead, 75% of direct labor cost, P63,000. Selling and administrative expenses, 12.5% of sales, P25,000. Net income for September, P25,000. Required: 11. Cost of goods sold. 12. Cost of goods manufactured. 13. Raw materials inventory August 31.

The following data were taken from the records of Quezon Company: Inventories September 30 P50,000 August 31 Raw materials Work in process Finished goods P80,000 95,000 60,000 78,000 Raw materials purchases, P46,000. Factory overhead, 75% of direct labor cost, P63,000. Selling and administrative expenses, 12.5% of sales, P25,000. Net income for September, P25,000. Required: 11. Cost of goods sold. 12. Cost of goods manufactured. 13. Raw materials inventory August 31.

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 22E: Ellerson Company provided the following information for the last calendar year: During the year,...

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