Execise 7.6

DEF Manufacturing company used P150,000 of direct materials and incurred P60,000 of direct labor costs during 2018. Indirect

labor amounted to P5,000 while indirect materials used totaled P3,000. Other factory costs included Utilities of P6,000; maintenance of

P8,000; supplies of P4,00; Depreciation of P16,000 and propery taxes of P5,000. Work in process inventory began the year with a

P12,000 balance and ended the year with an P16,000 balance.

Required:

Prepare. a schedule of cost of goods manufactured for DEF Manufacturing company for the year ended December 31,2018