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 ---------------------------------------------------------------------------------------- Purchases of raw materials

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

----------------------------------------------------------------------------------------

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)

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