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PROBLEM 1 The Ram Manufacturing Company produced P100,000 units during the year ended December 31, 2009. It incurred the following costs for the year Materials

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PROBLEM 1 The Ram Manufacturing Company produced P100,000 units during the year ended December 31, 2009. It incurred the following costs for the year Materials P100,000 (10% is indirect materials) Labor P200.000 (7% is indirect labor) Factory Overhead 120% of direct labor cost WIP - January 1 P1x 25, 500 WIP - December 31 P27.000 How much is the total prime cost

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