Honesty Production In. has manufactured 100,000 units of product AA in May at the following costs:

Labor of Php250,000 of which 92% represents direct labor

Materials of Php184,000 of which 90% represents direct materials

Decrease in Work in process inventory, php20,625.

Factory overhead application rate is 120% of direct labor costs. What is the cost of goods manufactured?

Answer rating: 100% (QA)

To calculate the cost of goods manufactured we need to sum up all the costs incurred in manufact... View the full answer