1. The following cost incurred by Lucky corporation for October 2019 were as follows:

Direct Materials used, P20,000; Indirect materials used, P1,000; Direct labor, P9,000; Indirect labor, P5,000; Other factory cost, P5,00; Selling expenses,P10,000; Administrative expenses, P12,000;

Question: How much is the total product cost?

a. P62,000

b. P50,000

c. P29,000

d. P40,000

2. Fortune company had the following cost for 2019;

Direct Materials purchases P620,000;Direct labor, P400,000; Factory Overhead cost, P500,000 ; Change in the direct materials inventory, P20,000 decrease Change in the work in process inventory, P50,000 increase Change in the finished goods inventory, P60,000 increase

Question: How much is the total manufacturing cost for 2019? a. P1,500,000 b. None of the choices c. P1,540,000 d. P1,520,000

Question: How much is the cost of goods manufactured? a. P1,590,000 b. P1,410,000 c. None of the choices d. P1,540,000

Question: How much is the cost of goods sold? a. P1,490,000 b. None of the choices c. P1,430,000 d. P1,550,000