BF Company has a cycle time of 2.0 days, uses a Raw and In Process account (RIP) and charges all conversion cost to Cost of Goods Sold. At the end of each month, all inventories are counted, their conversion cost components are estimated and inventory account balances are adjusted. Raw materials cost is backflushed from RIP to Finished Goods. Other information for the current month are as follows: Raw materials purchased on account is P345,000. RIP beginning, including P18,000 of conversion is P60,000. RIP end, including P23,550 of conversion cost is PP42,750. FG beginning, including P13,200 of conversion cost is P52,500. FG end, including P19,650 of conversion is P29,700. Direct labor amounted to P270,000 while applied factory overhead is P337,500. What is the amount of materials backflushed from RIP to Finished Goods?

(2 Points)

P339,500

P362,250

P367,800

P397,000

None of the above

This question is required.

4.BF Company has a cycle time of 2.0 days, uses a Raw and In Process account (RIP) and charges all conversion cost to Cost of Goods Sold. At the end of each month, all inventories are counted, their conversion cost components are estimated and inventory account balances are adjusted. Raw materials cost is backflushed from RIP to Finished Goods. Other information for the current month are as follows: Raw materials purchased on account is P345,000. RIP beginning, including P18,000 of conversion is P60,000. RIP end, including P23,550 of conversion cost is PP42,750. FG beginning, including P13,200 of conversion cost is P52,500. FG end, including P19,650 of conversion is P29,700. Direct labor amounted to P270,000 while applied factory overhead is P337,500. What is the amount of materials backflushed from Finished Goods to Cost of Goods Sold?

(2 Points)

P385,050

P390,550

P391,500

P397,050

None of the above

This question is required.

5.BF Company has a cycle time of 2.0 days, uses a Raw and In Process account (RIP) and charges all conversion cost to Cost of Goods Sold. At the end of each month, all inventories are counted, their conversion cost components are estimated and inventory account balances are adjusted. Raw materials cost is backflushed from RIP to Finished Goods. Other information for the current month are as follows: Raw materials purchased on account is P345,000. RIP beginning, including P18,000 of conversion is P60,000. RIP end, including P23,550 of conversion cost is PP42,750. FG beginning, including P13,200 of conversion cost is P52,500. FG end, including P19,650 of conversion is P29,700. Direct labor amounted to P270,000 while applied factory overhead is P337,500. What is the final amount of Cost of Goods Sold?

(2 Points)

P980,600

P986,100

P992,550

P999,000

None of the above

This question is required.

6.BF Company manufactures electric motors for electric fans. The company uses the JIT system to manufacture the electric motors. The projected labor and factory overhead is P3,780,000; materials costs P30 per unit. Planned production included 2,000 hours to produce 14,000 electric motors. Actual production for September was 900 units and electric motors shipped are 811 units. What is the amount of budgeted conversion cost per unit?

(2 Points)

P 268

P 270

P 300

P1,890

None of the above

This question is required.

7.BF Company manufactures electric motors for electric fans. The company uses the JIT system to manufacture the electric motors. The projected labor and factory overhead is P3,900,000; materials costs P25 per unit. Planned production included 3,000 hours to produce 15,000 electric motors. Actual production for October was 1,000 units and electric motors shipped are 915 units. What is the amount of cost of goods sold in October?

(2 Points)

P 237,900

P 260,775

P1,189,500

P1,212,375

None of the above