In June Company had cost of good manufactured equal to P150, 000; materials purchases, P33, 000; depreciation of factory assets, P17, 000; cost of goods sold, P150, 000; expired insurance on factory assets, P2,000; cost of goods available for sale, P190, 000; and total factory labor, P49, 000. Inventories were as follows June 1 June 30 Materials Work in Process P25,000 P50, 000 P30, 000 P40, 000 General factory overhead of P13, 000 was incurred in June; this figure includes all factory overhead except indirect labor, indirect materials, depreciation and insurance. Direct labor cost for the month was six times larger than indirect labor cost. The cost of indirect materials used was P1,000. The company uses a single materials account for direct and indirect materials. 1. The direct materials used 2. Finished goods inventory, June 1 The accounting records for 2008 of Manufacturing Company showed the following Decrease in raw materials inventory Increase in Finished goods inventory Increase in work in process inventory Raw materials purchased Direct labor payroll Factory overhead 3. The cost of raw materials used for the period amounted to 4. The cost of goods manufactured is P45, 000 P150,000 P60,000 P1, 290, 000 P600,000 P900,000 Company manufactures computer stands. Cost of Goods Sold is P125, 000, the ending balance of Finished Goods Inventory is 80% less than its beginning balances. The Cost of Goods Manufactured is 60% of cost of goods sold. 5. What is the beginning balance of Finished Goods Inventory? The following information was taken from the records of PARIS Manufacturing Company: Increase in Finished Goods Purchases Increase in work in process Direct labor Decrease in raw materials Work in process, beginning Total costs placed in process 1. The amount of cost of goods sold 2. The amount of applied factory overhead P36, 500 P70, 000 P18, 200 P84, 875 P9, 700 P64, 000 P310, 000