1. For this numeric question, 20 points.

Below are balances and information taken from the records of Bulls Company for the last quarter of the current year: Oct. 1 Inventories: Raw Materials P134,000 354,000 Work in process 594,600 Finished goods Manufacturing overhead Cost of goods sold Supplementary data 4,200,000 DI 4,600,000 CF 10,800,000 a. During the quarter, purchases of raw materials totaled P1,093,400 while physical count of raw materials revealed that P250,000 were unused. b. 39,800 direct labor hours were utilized distributed as follows 25,000 hours worked on regular time at regular rate of P42.50 per hour 14,000 hours worked at regular rate plus 10% special night premium 800 hours worked on overtime at regular rate plus 30% overtime premium Overhead is charged to production at 80% of direct labor costs. d. Actual overhead incurred was P1,420,000 including indirect materials of P12,000 but excluding special night and overtime premium Overhead variance is closed to all accounts with overhead elements at the end of the year. e. At the end of the year, records show that work in process Increased P80,000 while Finished Goods decreased by P150,000 12. The total factory costs for the quarter amount to 13. The costs of goods manufactured amount to