Golden Manufacturers provides you with the following data: Cost of goods sold, 3,600,000; Raw materials used, P1,500,000; Labor cost, P1,000,000; Factory overhead, P1,000,000. Ending inventory of work in process and beginning inventory of finished goods inventories are 50% and 83 1/3% of beginning inventory of work in process, respectively. Finished goods inventory, end is 140% of finished goods inventory, beginning.

Required: Compute for the following: 1.Prime cost; 2. Conversion cost; 3. Cost of goods manufactured

Answer rating: 100% (QA)

1 Prime Cost Prime Cost Raw Materials Used Direct Labor Cost P1500000 P1000000 P2500000 2 Conversion ... View the full answer