1. During 2020, there was no changed in either the raw material or the work in process beginning and ending inventories. However, finished goods, which had a beginning balance of P 25,000, increased by P 15,000. if the manufacturing cost incurred totaled P600,000 during 2008, the goods available for sale must have been: ?
2. During the month of May 2020, Candid Manufacturing Co. incurred P 30,000, P 40,000 and P 20,000 of direct materials, direct labor and factory overhead costs respectively. If the cost of goods manufactured was P 95,000 in total and the ending work in process inventory was P 15,000, the beginning inventory of work in process must have been: ?
3. The Lion Company's cost of goods manufactured was P 120,000 when its sales were P360,000 and its gross margin was P 220,000. if the ending inventory of finished goods was P 30,000, the beginning inventory of finished goods must have been:?
4. The gross margin for Cruise Company for 2020 was P 325,000when sales were P 700,000.The FG inventory beginning was P 60,000 and the FG ending inventory was P 35,000. The cost of goods sold was?
5. During the month of January, F Co.'s direct labor cost totaled P 36,000, and direct labor cost was 60% of prime cost. If total manufacturing costs during January were P 85,000, the direct material was?
6. During 2020, there was no change in the beginning or ending balance in the materials inventory account for the DL Co. However, the WP inventory account increased by P15,000, and the FG inventory account decreased by P 10,000. If purchases of raw materials were P 100,000 for the year, direct labor cost was P 150,000, and manufacturing overhead cost was P 200,000, the cost of goods sold for the year would be?
7. During the month of March 2020, Nape Co. used P 300,000 of direct materials. At March 31, 2020, Nape's direct materials inventory was P 50,000 more than it was at March 1, 2020. Direct material purchases during the month of March 2020 amounted to?
8. Piolo Company showed net income of P480, 000 in its income statement for the current year. Selling expenses were equal to 15% of sales and also 25% of cost of sales. All other expenses were 13% of sales. What is the gross profit for the current year?