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solutions in excel format pls Summit Company provided the inventory balances and manufacturing overhead cost data for the month of January. Under summit's cost system,
solutions in excel format pls
Summit Company provided the inventory balances and manufacturing overhead cost data for the month of January. Under summit's cost system, any over-or underapplied is closed to cost of goods sold account at the end of the calendar year. Inventories: January 1 January 31 Direct Materials P 30,000 P 40,000 Work-in-Process 15,000 20,000 Finished Goods 65,000 50,000 Additional information: Month of January Factory Overhead Applied P 150,000 Cost of Goods Manufactured 515,000 Direct Materials Used 190,000 Actual Factory Overhead 144,000 The cost of goods sold if under-or overapplied overhead were allocated to inventories and cost of goods sold is The cost of goods sold if under-or overapplied overhead were allocated to inventories and cost of goods sold is O P524,700 O P526,300 O P530,300 O P509,700
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