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The following information was taken from Cody Co.'s accounting records for the year ended Dec. 31, 2014: Decrease in raw materials inventory P15,000 Increase in
The following information was taken from Cody Co.'s accounting records for the year ended Dec. 31, 2014:
Decrease in raw materials inventory P15,000
Increase in finished goods inventory P35,000
Raw material purchased P430,000
Direct labor payroll P200,000
Factory overhead P300,000
Freight-out P45,000
There was no work in process inventory at the beginning or end of the year. Cody's 2014 cost of goods is
a. P895,000
c. P950,000
b. P910,000
d. P955,000
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