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Preparing for a test in accounting need your help with the answers and solutions! Thank you so much! Nos. 21 & 22 are based on
Preparing for a test in accounting need your help with the answers and solutions! Thank you so much!
Nos. 21 \& 22 are based on the following information: Selected accounts are presented as follows: The balance of Work in Process at August 31 is P220,000. 21. The amount charged to Work in Process for factory overhead in August was 22. The amount charged to Work in Process for direct materials in August was P 23. Selected accounts are presented as follows: WORK-IN-PROC.ESS The balance of Work in Process at Jul 31 is P21,000. The amount of factory overhead applied in July was f 24. The balance in White Company's Work in Process inventory account was P15,000 on August 1 and P18,000 on August 31. The company incurred P30,000 direct labor costs during August and requisitioned P25,000 in raw materials (all direct material). If the sum of the debits to the Manufacturing Overhead account total P28,000 for the month, and if the sum of the credits totaled P30,000, then the amount transferred to Finished Goods amount to P 25. G \& W Inc., a manufacturing company, has provided data concerning its operations for July. The beginning balance in the raw materials account was P29,000 and the ending balance was P38,000. Raw material purchases during the month totaled P74,000. Manufacturing overhead cost incurred during the month was P106,000, of which P7,000 consisted of raw materials classified as indirect materials. The direct materials cost for the month was P Step by Step Solution
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