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1. The following information was taken from H Company's accounting records for the year December 31, 2008: Increase in raw materials inventory P 15,000 Decrease
1. The following information was taken from H Company's accounting records for the year December 31, 2008: Increase in raw materials inventory P 15,000 Decrease in finished goods inventory 35,000 Raw materials purchased 430,000 Direct labor cost 200,000 Factory overhead control 260,000 Freight-in 45,000 There was no work in process inventory at the beginning or end of the year. H's 2008 cost of goods sold is if FOH is applied at 140% of labor costs
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