The work-in-process inventories of E INDUSTRIES were completely destroyed by fire on

June 1, 2008.

You were able to establish physical inventory figures as follows:

January 1, 2018 June 1, 2018

Raw materials P 60,000 P 120,000

Work-in-process 200,000 __

Finished goods 280,000 240,000

Sales from January 1 to May 31 were P546,750.

Purchases of raw materials were

P200,000 and freight on purchases, P30,000.

Direct labor during the period was

P160,000.

It was agreed with insurance adjusters that an average gross profit rate of

35% based on cost be used and that direct labor cost was 160% of factory overhead.

Required:

Based on the above and the result of your audit, you are to determine:

1.Raw materials used

2.The total value of goods put in process

3.The value of goods manufactured and completed as of June 1, 2018

4.The work-in-process inventory destroyed as computed by the adjuster