FTC Company has the following data on July 31,2016: July manufacturing overhead P30,101.30; decrease in material inventory
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Question:
FTC Company has the following data on July 31,2016:
July manufacturing overhead P30,101.30; decrease in material inventory P2,430.00; decrease in goods in process inventory P590.00; Increase in finished goods inventory P1,320.40
The manufacturing overhead amount to 50% of the direct labor and the direct labor and manufacturing overhead combined equal to 50% of the total cost of manufacturing. All materials are purchased FOB shipping point.
What is the cost of goods manufactured?
Expert Answer:
Calculating the Cost of Goods Manufactured COGM for FTC Company Heres how to calculate the cost of goods manufactured COGM for FTC Company using the p... View the full answer
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