Walker Company incurred P80,000 direct labor cost in 202A and had the following selected account balances at the beginning and end of 202A: Finished goods January 1, P56,000; Work in process January 1, P24,000; Materials January 1, P34,000; Finished goods December 31, P90,000; Work in process December 31, P28,000; Materials December 31, P48,000. The total cost of goods sold and actual factory overhead during the year are P280,000 and P70,000, respectively. Determine the total material purchases during the year.

Answer rating: 100% (QA)

To determine the total material purchases during the year we need to calculate the cost of materials ... View the full answer