Question 31 On December 31, 2009, the balance sheet of Eirian Manufacturing Company showed the following: Finished goods Work in process P 500,000 400,000 Materials 1,000,000 During 2010, the prime cost amounted to P6,840,000 and conversion costs amounted to P3,960,000. The average direct labor rate was P25/hr. and manufacturing overhead was applied to production at 80% of direct labor cost. Purchases of materials were PSM and the cost of goods manufactured was P8.7M. Sales amounting to P12M were uniformly billed at 30% gross profit rate. The change in Finished goods inventory during 2010 is O an increase of P300,000 O a decrease of P300,000 Oan increase of P400.000 Ono change None of the choices 1 pts D Question 32 On December 31, 2009, the balance sheet of Eirian Manufacturing Company showed the following: Finished goods P 500,000 Work in process 400,000 1 pts Materials 1,000,000 During 2010, the prime cost amounted to P6,840,000 and conversion costs amounted to P3,960,000. The average direct labor rate was P25/hr. and manufacturing overhead was applied to production at 80% of direct labor cost. Purchases of materials were P5M and the cost of goods manufactured was P8.7M. Sales amounting to P12M were uniformly billed at 30% gross profit rate. The cost of materials issued to production is P5,640,000 OP6.840,000 OP4,640,000 OP6,840,000 None of the choices C 0 D Question 33 On December 31, 2009, the balance sheet of Eirian Manufacturing Company showed the following: Finished goods Work in process Materials P 500,000 400,000 1,000,000 During 2010, the prime cost amounted to P6,840,000 and conversion costs amounted to P3,960,000. The average direct labor rate was P25/hr. and manufacturing overhead was applied to production at 80% of direct labor cost. Purchases of materials were P5M and the cost of goods manufactured was PB.7M. Sales amounting to P12M were uniformly billed at 30% gross profit rate. The work in process at the end of 2010 is P300,000 OP400,000 O P700,000 OPO None of the choices. 1 pts