Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Golden Manufacturers provides you with the following data: Cost of goods sold, 3,600,000; Raw materials used, P1,500,000; Labor cost, P1,000,000; Factory overhead, P1,000,000. Ending inventory
Golden Manufacturers provides you with the following data: Cost of goods sold, 3,600,000; Raw materials used, P1,500,000; Labor cost, P1,000,000; Factory overhead, P1,000,000. Ending inventory of work in process and beginning inventory of finished goods inventories are 50% and 83 1/3% of beginning inventory of work in process, respectively. Finished goods inventory, end is 140% of finished goods inventory, beginning.
Required: Compute for the following: 1.Prime cost; 2. Conversion cost; 3. Cost of goods manufactured
Step by Step Solution
★★★★★
3.31 Rating (160 Votes )
There are 3 Steps involved in it
Step: 1
1 Prime Cost Prime Cost Raw Materials Used Direct Labor Cost P1500000 P1000000 P2500000 2 Conversion ...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started