Question
The factory ledger of Diamond Corporation contains the following cost data for the year ended December 31, 2011: Inventories
The factory ledger of Diamond Corporation contains the following cost data for the year ended December 31, 2011:
Inventories
Opening Closing
Raw materials P150,000 170,000
Work in process 160,000 60,000
Finished goods 180,000 220,000
Raw materials used -- 652,000
Total manufacturing
costs charged to production
during the year (including
raw materials, direct labor and
factory overhead applied at
the rate of 50% of direct
labor cost) -- 1,372,000
Compute the: (1) cost of raw materials purchased and (2) direct labor charged to production during the year:
Step by Step Solution
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Step: 1
1 Cost of Raw Materials Purchased CostofRawMaterialsPurchased OpeningRawMaterials RawMaterialsPurcha...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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