During the month of May 2021, what was the aggregate cost of materials purchases? (2 Points) X Corp. applies factory overhead to production at 75% of labor cost. The following data are drawn from the company's records: Inventories Materials Work in process Finished goods May 1, 2021 P 96,200 132,000 156,000 Credit sales from January to May 2021 - P500,000 Credit sales from January to April 2021- P400,000 Cash Sales for the month of May 2021-P 200,000 Factory overhead applied - P48,000 Operating expenses - P22,400 Net income-P53,600 May 31, 2021 P 94,600 148,000 172,000