The Heart Manufacturing Company has a cycle time of 2.0 days, uses Raw and In Process account (RIP) and charges all conversion cost to Cost of Goods Sold. At the end of each month, all inventories are counted, their conversion cost components are estimated and inventory account balances are adjusted . Raw materials cost is backflushed from RIP to Finished Goods. The following is for the month of May.

Question:

1.Determine the amount of materials backflushed fro RIP to finished goods

2.How much is the amount of materials backflushed from finished goods to cost of good sold

3.

RIP beginning, including P12,000 of conversion cost FG beginning, including P8,800 of conversion cost Raw materials purchased on credit RIP end, including P15,700 of conversion cost FG end, including P13,100 of conversion cost Conversion cost- P180,000 of direct labor and P225,000 of overhead P 40,000 35,000 230,000 28,500 19,800