Beginning End Raw Materials Inventory(RMI) P 10,000 P 5,000 Work in Process (WIP) 40,000 30,000 Finished Goods
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Question:
Beginning End
Raw Materials Inventory(RMI) P 10,000 P 5,000
Work in Process (WIP) 40,000 30,000
Finished Goods (FG) 20,000 10,000
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Purchases of raw materials P 43,000
Sales 200,000
Gross profit on sales 50%
Conversion costs (CC) P35,000
Factory Overhead (FOH) ?
Required:
Give the debit entry for the issuance of the indirect materials. (Account Amount)
Related Book For
South-Western Federal Taxation 2019 Comprehensive
ISBN: 9781337703017
42th Edition
Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young
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