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pls provide a solution On January 31, 2013, the general ledger accounts of voldemort Manufacturing Company are incomplete because the accountant had to undergo an

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On January 31, 2013, the general ledger accounts of voldemort Manufacturing Company are incomplete because the accountant had to undergo an emergency operation on ulcer. The treasurer, an old friend of yours, supplied with the following information: Material s inventory January 1, 2013 and the purchases for the month were P30,000 and P70,000 respectively. During the month the work in process account was debited for P40,000 for the requisitioned of direct materials and credited for P80,000 for the units completed for the month. Work in Process January 1, 2013 balance is P2,000. The finished goods inventory balance as of January 1 was P20,000 and a credit entry of P60,000 to this account was made during the month. The accrued payroll account balance for January 1, 2013 was 2,000, while the gross factory payroll for the month was P80.000. Applied factory overhead is credited for all indirect costs that are applied to the production orders. Time tickets for the month totaled 11,000 direct labor hours. All factory workers receive P6 per hour. Indirect costs are applied at a rate of P4 per direct labor hour. Indirect costs are applied at a rate of P4 per direct labor hour. After giving you a few minutes to look over the above data, your old friend asks you the following: Materials January 31, balance? Total direct labor cost during the month? Total overhead charge to production: January 31, balance of Work in process? TU January 31, balance of Finished Goods account

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