2. Assuming that all cost incurrence and purchases were on account, how much is the accounts payable balance?

3. How much is the ending balance of the direct materials?

4. How much is the total manufacturing cost?

5. How much is the cost of goods completed for the period?

6. How much is the gross profit?

7. How much is the net income?

8. How much is the work in progress ending inventory?

9. How much is the work in finished goods inventory?

Buloy Company is a traditional company that does not estimate overhead costs. It has the following transactions for the period: Incurred direct labor costs of P68,000 Purchased manufacturing equipment for P80,000 Purchased direct materials for P215, 000 Incurred manufacturing overhead of P55, 000 (excluding depreciation) Recorded depreciation of the manufacturing equipment amounting to 20,000. Transferred 88% of the direct materials to work in process Completed work on 80% of the goods in work in process Sold 65% of the completed goods Marketing and administrative costs were P67,000 Sales amounted to P 351,580 The balances at the at the beginning of the period are as follows: Direct Materials - 50,000 Work in progress - 25,000 Finished goods - 30,000 How much is the cost of direct materials issued to production? Note: Just indicate the absolute value. Do not encode negative numbers even if they are credits