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The following selected accounts and their balances were taken from the books of INA Manufacturing Corporation on December 31, 2016. (Amo unts in P000) Raw
The following selected accounts and their balances were taken from the books of INA Manufacturing Corporation on December 31, 2016. (Amo unts in P000) Raw Materials, Jan 1 P 1,000 980 Raw Material s, Dec 31 Goods in Process, Jan 1 3000 Goods in Process, Dec 31 4,000 Finis hed Goods, Jan 1 2,500 Finis hed goods, Dec. 31 1650 Raw Materials Purchased 25,000 500 Raw Materials Returned Direct La bor 20,000 Indirect la bor 5,000 Factory Supplies Used 800 Oth er Manufa cturing Overhead 1,200 Factory Buil di ng Depreciation -Factory Building Factory Equipment 2,000 75 1,000 Depreciation - Fa ctory equipment Repairs of Factory Equip me nt 40 650 Sales (Personnel ) Salari es 2,200 Advertising Expense 250 Delivery Equi pment 450 Depreciation -Delivery Equipment 45 Rent Expense Sales Office 450 Oth er Selling Expenses 550 Sal aries of Ad mi ni stra ti ve Employees 4,500 Office Building Depreciation- Office bui lding 500 25 Office Equipment 100 Depreciation - Office Equi pment 10 Office Supplies Expense 50 Mis cellaneous General Expenses 300 Sal es 76,450 Sales Returns 500 Sales Discount 450 2. Supporting Schedules (all amounts are in P'000) Net Sales, Raw Materials used, Factory Overhead Cost of goods Manufactured, Cost of goods sold, Selling Expenses, General Expenses
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