d. Finished Goods Inventory Part II. Problem solving. Show solutions. No erasures 1 The Kalay Company shows the following information relating to one of its raw materials Inventory, January 1 Purchases, January 10 Purchases, January 20 Issuance, January 8 Issuance, January 18 Issuance, January 25 300 units at P17.50 900 units at P18.00 1,200 units at P18.25 200 units 600 units 1,000 units Required: What are the values of ending inventory under (a) perpetual; and (b) periodic methods, assuming the given cost flows? 1. FIFO 2. Average 2 Normal annual capacity for Mayaman Company is 72,000 units, with fixed factory overhead budgeted at P33,840 and an estimated variable factory overhead rate for P4.20 per unit. During October, actual production was 5,400 units, with a total overhead of P15,910. Required: Compute for the folfowing 1. The applied factory overhead 2. The over or underapplied factory overhead 3. The spending variance 4. The idle capacity variance