The following data was taken from the records of Superstar Company for the first quarter of...

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The following data was taken from the records of Superstar Company for the first quarter of the current year: Accounts January 1 March 3 Raw materials inventory P95,000 P90,000 5000 Work in process inventory 105,000 120,000 115000 Finished goods inventory 135,000 150,000 15000 Direct labor 750,000 Factory overhead 656,900 Cost of goods sold 1,800,000 8. How much is the cost of raw materials used? The following data was taken from the records of Superstar Company for the first quarter of the current year: Accounts January 1 March 3 Raw materials inventory P95,000 P90,000 5000 Work in process inventory 105,000 120,000 115000 Finished goods inventory 135,000 150,000 15000 Direct labor 750,000 Factory overhead 656,900 Cost of goods sold 1,800,000 8. How much is the cost of raw materials used?

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Answer To calculate the cost of raw materials used we need to find the change in raw materials inventory during the first quarter The formula to calcu... View the full answer