A. Selected account balances for the year May 31, 2011, are provided below for Khyle Company....

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A. Selected account balances for the year May 31, 2011, are provided below for Khyle Company. Raw materials inventory, June 1, 2010 P320,000 296,000 Raw materials inventory, May 31, 2011 Purchases of raw material Insurance, factory 1,200,000 64,000 Work in process inventory, June 1, 2010 Utilities, factory Indirect Labor Finished goods inventory, June 1, 2010 Direct Labor Indirect materials Work in process inventory, May 31, 2011 Rent, factory building Finished goods inventory, May 31, 2011 2 360,000 480,000 680,000 ? 56,000 384,000 960,000 ? Maintenance, factory 120,000 The goods available for sale for the year totaled P5,080,000; the total manufacturing costs were P4,504,000, and the co of goods sold totaled P4,480,000 for the year. Required: 1. Work in process inventory, June 1, 2010 2. Direct labor 3. Finished goods inventory, May 31, 2011 (Note: In answering number 4 and 5 assume that direct materials is a variable cost and that rent is a fixed cost). 4. Assuming the company produces 40,000 units during the year, compute the cost per unit of Direct materials Rent on the factory building_ a. Direct materials cost per unit b. Rent on factory building per unit 5. Assume that in 2012 the company produces 50,000 units, compute Direct materials total cost_ Total rent on factory building. A. Selected account balances for the year May 31, 2011, are provided below for Khyle Company. Raw materials inventory, June 1, 2010 P320,000 296,000 Raw materials inventory, May 31, 2011 Purchases of raw material Insurance, factory 1,200,000 64,000 Work in process inventory, June 1, 2010 Utilities, factory Indirect Labor Finished goods inventory, June 1, 2010 Direct Labor Indirect materials Work in process inventory, May 31, 2011 Rent, factory building Finished goods inventory, May 31, 2011 2 360,000 480,000 680,000 ? 56,000 384,000 960,000 ? Maintenance, factory 120,000 The goods available for sale for the year totaled P5,080,000; the total manufacturing costs were P4,504,000, and the co of goods sold totaled P4,480,000 for the year. Required: 1. Work in process inventory, June 1, 2010 2. Direct labor 3. Finished goods inventory, May 31, 2011 (Note: In answering number 4 and 5 assume that direct materials is a variable cost and that rent is a fixed cost). 4. Assuming the company produces 40,000 units during the year, compute the cost per unit of Direct materials Rent on the factory building_ a. Direct materials cost per unit b. Rent on factory building per unit 5. Assume that in 2012 the company produces 50,000 units, compute Direct materials total cost_ Total rent on factory building.

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Lets calculate the required values step by step 1 Work in Process Inventory June 1 2010 Work in Proc... View the full answer