X Inc. is a manufacturing company using the perpetual system. The beginning inventory of materials totaled P 150,000 & all debits to "materials account" amounted to P 400,000. The excess of beginning inventory over its ending inventory is P 60, 000. Conversion cost is 100,000. WIP inventory increased by 5,000 while Finished Goods inventory decreased by 3,000. GP rate is 30% based on cost. Compute the gross profit
X Inc. is a manufacturing company using the perpetual system. The beginning inventory of materials totaled P 150,000 & all debits to "materials account" amounted to P 400,000. The excess of beginning inventory over its ending inventory is P 60, 000. Conversion cost is 100,000. WIP inventory increased by 5,000 while Finished Goods inventory decreased by 3,000. GP rate is 30% based on cost. Compute the gross profit
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 3CE: Pietro expects to produce 50,000 units and sell 49,300 units. Beginning inventory of finished goods...
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X Inc. is a manufacturing company using the perpetual system. The beginning inventory of materials totaled P 150,000 & all debits to "materials account" amounted to P 400,000. The excess of beginning inventory over its ending inventory is P 60, 000. Conversion cost is 100,000. WIP inventory increased by 5,000 while Finished Goods inventory decreased by 3,000. GP rate is 30% based on cost. Compute the gross profit
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