kindly refer to the photo below:

Ex. 6-4. Cost accounting cycle in job order At the beginning of the year, Manila Manufacturing Company had the following balances in its inventory accounts: Raw materials P100,000 Work in process Finished goods 232,000 720,000 The work in process subsidiary ledger shows the following balances: Job No. Materials Labor Overhead 500 P22,000 P48,000 P72,000 600 15,000 30,000 45,000 Total P37,000 P78,000 P117,000 The finished goods inventory contains Job 400 with a total cost of P320,000 and Job 300 with a total cost of P400,000. Summary of transactions for the 3-months ended Sept. 20, are given below: a. Raw materials purchased on cash, P650,000. b. Materials issued to production, P500,000, distributed as follows: Job. 500 (25%), Job 600 (30%), Job 700 (25%), Job 800(15%) and the balance represent factory supplies consumed. c. Labor costs for the period: Direct labor - P250,000 distributed as follows: Job 500 (25%); Job 600 (30%); Job 700(20%) and the balance to Job 800 Indirect labor - P75,000 Selling and administrative expenses - P125,000. d. Administrative expenses and Manufacturing overhead incurred other than indirect materials and indirect labor follows:P30,000 Factory insurance expired 60,000 Factory rent 12,000 Factory maintenance 5,000 Office equipment maintenance Electricity costs, 60% to factory, 40% to 60,000 selling and administration Taxes & Licenses, 60% to factory, 40% to selling & administration 20,000 Miscellaneous factory costs 20,000 Additional information: > Overhead was applied to production at the same rate used last year and over/under applied overhead is closed to all accounts with overhead elements. > Only Job No. 700 is unfinished at the end of the period. Job. 600 is in the warehouse and all others were sold at production cost plus 40% mark-up on a 30-day term. Required: Use worksheet for your supporting computations. All computations must be in good form. 1) Prepare T-Accounts for Raw Materials, Work in Process, Finished Goods, Cost of Sales and Manufacturing overhead and post all relevant information. 2) Prepare a formal statement of cost of goods manufactured and sold