kindly refer to the photo below.

The balance sheet of Joyful Manufacturing Company showed the following balances on January 1: , Finished Goods I P1,500,000 Work in process 1,200,000 Raw Materials 2,000,000 During the 1st quarter of the year, prime costs amounted, to P13,680,000 while conversion costs amounted to P7,920,000. The average direct labor rate was P3850 and overhead was applied at P3080 per direct labor hour. Purchases of raw materials were PIOM while costs of goods manufactured was P17,400,000. The company continues its pricing policy to maintain a gross prot rate of 30%. At the end of the quarter, costs of sales amounted to P16, 800, 000. 9. The change 111 work In process inventory andnished goods inventory during the 1st quarter of the year unwanted to