The Cost of Goods Sold in March for Raggae Rocks Co. wasP2,300,000. March 31 Work in Process Inventory was 40% of the March 1 Work in Process Inventory. Overhead was 225% of the direct labor costs. During March P 1,182,000 of direct materials was purchased.

Other March information were as follows:

Beginning

Ending

Raw materials

P30,000

P42,000

Work in process

P90,000

Finished goods

P125,000

P24,000

8. (2-34) The Cost of Goods Sold in March for Raggae Rocks Co. wasP2,300,000. March 31 Work in Process Inventory was 40% of the March 1 Work in Process Inventory. Overhead was 225% of the direct labor costs. During March P1,182,000 of direct materials was purchased. Other March information were as follows: Beginning Ending Raw materials P30,000 P42,000 Work in process P90,000 Finished goods P125,000 P24,000 a. Prepare a schedule of the cost of goods sold for March b. Prepare the March cost of goods manufactured schedule. c. What was the amount of prime cost incurred in March. d. What was the amount of conversion cost incurred in March