Below are the costs incurred by Michael Angelo Company, a consulting firm:

Depreciation on equipment used for contract work P 90,000

Depreciation used on administrative office equipment 105,000

Insurance on administrative operations 90,000

Insurance on contract operations 80,000

Janitorial services for administrative offices 50,000

Janitorial services for professional offices 40,000

Salaries of administrative office personnel 770,000

Salaries of professionals working on contracts 1,260,000

Supplies used in the administrative officers 150,000

Supplies used on consulting contracts 120,000

Utilities for administrative operations 130,000

Utilities for contract operations 110,000

REQUIRED: Prepare a schedule of cost of contract services provided (similar to a cost of goods

manufactured schedule) for the month of August of the current year.

. FLOW OF COSTS - MERCHANDISING

Presented below are certain account balances of Our Home Company:

Administrative Expenses 82,500 Purchases 190,000

Beginning Inventory 45,300 Rental Revenue 6,500

Ending Inventory 48,000 Dividends earned 71,000

Income Tax 21,856 Freight-in 10,100

Interest Expense 12,700 Sales Discounts 7,800

Purchase Discounts 2,500 Sales Returns 12,400

Purchase Returns and Allowances 10,500 Sales 390,000

Accumulated profits, beginning 114,400 Selling Expenses 99,400

Accumulated profits, end 134,000

REQUIRED: Compute for the Cost of Goods Sold

FLOW OF COSTS - MANUFACTURING

JF Company has gathered the following data concerning its May operations:

Work in process, beginning 250,000 Work in process, ending 210,000

Direct materials used 90,000 Finished goods, ending 270,000

Direct labor 60,000 Factory overhead 80,000

Finished goods, beginning 340,000

REQUIRED: Calculate the goods manufactured and sold for May