Hi tutor experts! Please provide the requirements stated below with clear solutions. Thank you so much tutor!

1.Fee Co. had a production run of 8,000 pairs of slacks during the last week of June, at the following cost per pair.

Materials P 50.00

Labor 40.00

Factory overhead (includes 30.00

P7.00 allowance for spoiled work)

Final inspection revealed 600 pairs not meeting quality standards, salable as seconds at P40.00 per pair.

Required:

1. Prepare the journal entries assuming the loss is charged to the production run.

2. Prepare the journal entries assuming the loss is to be charged to all production run.

Answer rating: 100% (QA)

1 Prepare the journal entries assuming the loss is charged to the production run First calculate the ... View the full answer