Purchases Factory overhead Problem 6 Donna Company submits the following data for May 2013 Direct labor cost P80,000 P100,000 Applied at 150% of direct labor cost Inventories May 1 May 31 Finished goods P45,000 P24,000 Work in Process P25, 800 P18, 000 Materials P22,000 P25,000 Actual factory overhead amounts to P80,000. Required: 1. How much is the Company's Cost of goods sold adjusted? 2. How much is the amount transferred out from Work in process and transferred in to Finished Goods? 3. How much is the amount transferred out from Finished Goods? 4. How much is the adjustment posted on the Cost of Goods sold Account? (indicate if debit or credit) 5. If there are 1,000 units sold, how much is the cost per unit of product