San Company provides the following information: January 1 P? Inventories: Materials Work in process Finished goods...

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San Company provides the following information: January 1 P? Inventories: Materials Work in process Finished goods January transactions: 80,000 60,000 January 31 P50,000 95,000 78,000 Purchase of materials - P46,000 Factory overhead (75% of direct labor cost) - P63,000 Selling and administrative expenses (12.5% of sales) - P25,000 Factory overhead control - P62,800 Net income for January - P25,200 Indirect materials used - P1,000 Required: Compute for: 1) Materials inventory, January 1; 2) Cost of goods manufactured; and 3) Cost of goods sold (normal). San Company provides the following information: January 1 P? Inventories: Materials Work in process Finished goods January transactions: 80,000 60,000 January 31 P50,000 95,000 78,000 Purchase of materials - P46,000 Factory overhead (75% of direct labor cost) - P63,000 Selling and administrative expenses (12.5% of sales) - P25,000 Factory overhead control - P62,800 Net income for January - P25,200 Indirect materials used - P1,000 Required: Compute for: 1) Materials inventory, January 1; 2) Cost of goods manufactured; and 3) Cost of goods sold (normal).