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kindly refer to the photo below. The following cost information is available from the records of Johnson Company for the year just ended: Inventories anuary

kindly refer to the photo below.

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The following cost information is available from the records of Johnson Company for the year just ended: Inventories anuary 1 December 31 Finished Goods P2,400,000 P2,950,000 Work in process 3,000,000 2,400,000 Raw Materials 4,400,000 2,800,000 Store Supplies 850,000 700,000 Office Supplies 150,000 280,000 Purchases: Raw Materials P9,000,000 Store Supplies 1,200,000 Office Supplies 850,000 Other costs and expenses: Salaries & Benefits: Direct labor P6,500,000 Indirect labor 560,000 Supervision fee 1,250,000 Administrative & selling 2,360,000 Depreciation (60%, factory; 40% adm & Sell) 1,500,000 Rent (60% factory; 40% adm & sell) 1,200,000 Utilities (60% factory; 40% adm & sell) 600,000 Advertising 320,000 Factory supplies used 850,000 Additional information: The company applies actual overhead to production and sells their produce at a price to give the company a gross profit rate of 25%. 7. Determine the cost of goods manufactured for the period. 8. The total sales for the period amounted to

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