show solution

The financial records of Ram Company have been destroyed in a fire. The following information has been obtained from a separate set of books maintained by the accountant. The accountant now requires your assistance in computing the missing items. Direct Materials Inventory Beg Bal P8,000 Purchases? Transferred out ? Work in Process Inventory Beg Bal P7, 500 MaterialsP18,000 LaborP13,500 Transfer out? Mfg. OH P8,000 End Bal? End Bal P6, 400 Cost of goods sold Finished Goods Inventory P57,000 Transfer out Beg Bal? Transfer in P39,500 End Bal. P4, 200 16. What is the amount of direct materials transferred out? 17. What is the amount of direct materials purchased? 18. What is the cost of goods transferred out of work in process? 19. What is the ending work in process inventory? 20. What is the cost of goods transferred out of finished goods inventory? 21. For the year 2009, the gross margin of Jumbo Co. was P96, 000; the cost of goods manufactured was P340, 000; the beginning inventories of work in process and finished goods were P28,000 and P45,000 respectively; and the ending inventories of work in process and finished goods were P38,000 and P52, 000 respectively. The sales of Jumbo Co. for 2009, must have been 09/30/2019 The following data were taken from the record of Best Company 08/31/2019 Inventories Raw Materials ? Work in process P80,000 Finished Goods P60,000 Raw materials purchases P46,000 Factory overhead, P63,000 which is 75% of direct labor cost Selling and Administrative Expenses, 12.5%, P25,000 P50,000 P95,000 P78,000 Net Income for September,2011, P25,000 22. What is the cost of raw materials inventory on August 31, 2019