Saviour company had the following transaction during its first month of operations: spent and used P30,000 and P40,000 of direct labor and manufacturing overhead, respectively, and used P14,000 of direct materials in production. The month end work in process inventory consisted of P8,000 of direct materials, p10,000 of direct labor and P15,000 of manufacturing overhead. The month end finished goods inventory consisted in part of P12,000 of direct labor and P16,000 of manufacturing overhead. The cost of goods sold for the month was P20,000.

The manufacturing component of finished goods inventory is:

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Manufacturing Cost of Finished Goods Inventory for Saviour Company We can calculate the manufacturin... View the full answer