accumulating the cost of production. However, Swan Manufacturing Company is Swan Manufacturing Company currently uses actual costing method in planning to adopt the normal costing system starting the next calendar period. For this purpose, the cost accountant submitted the following budget for the next calendar year: Direct labor, 10,000 DLH Factory overhead, 80% of DLH Direct Materials P625,000 400,000 600,000 The following are actual data for the current year: Labor: P435,000 Direct labor costs (7,500 hours) Indirect labor Rav Materials: 250,000 P80,000 Inventory, Jan. 1 Purchases 500,000 485,000 Issued to production of which P85,000 is indirect Other factory overhead costs: Depreciation Maintenance Utilities Miscellaneous Work in Process: P110,000 50,000 120,000 75,000 220,000 180,000 Beginning inventory Ending Inventory Finished Goods: Beginning inventory Ending inventory 80,000 110,000 Required: Give all the entries required following the flow of cost using Normal costing method. Support your entries with computations if necessary.