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The following information was taken from H Company's accounting records for the year December 31, 2008: Increase in raw materials inventory P 15,000 Decrease in
The following information was taken from H Company's accounting records for the year December 31, 2008:
Increase in raw materials inventory P 15,000
Decrease in finished goods inventory 35,000
Raw materials purchased 430,000
Direct labor cost 200,000
Factory overhead control 260,000
Freight-in 45,000
There was no work in process inventory at the beginning or end of the year. H's 2008 cost of goods sold is if FOH is applied at 140% of labor costs:
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