IV. D Company had the following inventories at the beginning and end of July: Materials Work...

 

 

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IV. D Company had the following inventories at the beginning and end of July: Materials Work in process Finished goods July 1 P20,000 ? 65,000 July 31 P 45,000 185,000 115,000 During July, the cost of materials purchased was P160,000 and factory overhead of P125,000 was applied at a rate of 75% of direct labor cost. July cost of goods sold was P240,000. 1. Determine the cost of goods manufactured 2. Determine the total manufacturing cost 3. Determine the cost of goods sold I IV. D Company had the following inventories at the beginning and end of July: Materials Work in process Finished goods July 1 P20,000 ? 65,000 July 31 P 45,000 185,000 115,000 During July, the cost of materials purchased was P160,000 and factory overhead of P125,000 was applied at a rate of 75% of direct labor cost. July cost of goods sold was P240,000. 1. Determine the cost of goods manufactured 2. Determine the total manufacturing cost 3. Determine the cost of goods sold I