P Corporation is a manufacturing company engaged in the production of a single special product known as "ML". Production costs are accumulated with the use of a job-order-cost system. The following information is available as of June 1, 20x8:

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Work-in-process Direct materials inventory P10, 710 48,600 In analyzing the job-order cost sheets, the records disclosed that the composition of the work-in-process inventory on June 1, 20x8 were as follows: Direct materials used P 3,960 Direct labor (900 hours) 4,500 Factory overhead applied 2,250 P10,710 The following manufacturing activity occurred during the month of June 20x8: Purchased direct materials costing P60,000 Direct labor worked 9.900 hours at P5 per hour Factory overhead of P2.50 per direct labor hour was applied to production At the end of June 20x8, the following information was gathered in connection with the inventories: Inventory of work-in-process: Direct materials used P12,690 Direct labor (1,500 hours) 7,500 Factory overhead applied 3,750 P24,210 Inventory of direct materials: P51,000 Compute the cost of goods manufactured. Work-in-process Direct materials inventory P10, 710 48,600 In analyzing the job-order cost sheets, the records disclosed that the composition of the work-in-process inventory on June 1, 20x8 were as follows: Direct materials used P 3,960 Direct labor (900 hours) 4,500 Factory overhead applied 2,250 P10,710 The following manufacturing activity occurred during the month of June 20x8: Purchased direct materials costing P60,000 Direct labor worked 9.900 hours at P5 per hour Factory overhead of P2.50 per direct labor hour was applied to production At the end of June 20x8, the following information was gathered in connection with the inventories: Inventory of work-in-process: Direct materials used P12,690 Direct labor (1,500 hours) 7,500 Factory overhead applied 3,750 P24,210 Inventory of direct materials: P51,000 Compute the cost of goods manufactured.

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