For the month just ended, the following data were generated by Mkulay Corporation

The company manufacture high quality paints. Production begins with the blending of various chemicals, which are added at the beginning of the process and ends with canning of the paint. Canning occurs when the mixtures reaches the 90% stage of completion. The gallon cans are then transferred to the Shipping Department for crating and shipment. Direct labor and overhead are added continuously throughout the process. Overhead is allocated on the basis of direct labor hours at the rate of P30 per hour.

Physical Units: Work-in-process, beginning inventory Direct materials, chemicals Direct materials, cans Direct labor (25% complete) Overhead (25% complete) Started during the month Transferred to Shipping Department during the month Work-in-process, end inventory: Direct materials, chemicals (100% complete) Direct materials, cans Direct labor (80% complete) 4,000 gallons 21,000 gallons 20,000 gallons Overhead (80% complete) Costs for the month: Work-in-process, beginning inventory: Direct materials, chemicals Direct labor (P100 per hour) Overhead This month's costs added: Direct materials, chemicals Direct materials, cans Direct labor (P100 per hour) Overhead P456,000 62,500 18,750 P2,284,000 70,000 350,000 105,000 2