PLEASE ANSWER PROBLEM 3. IT HAS 15 QUESTIONS

Introduction to Cost Accounting and Cost Accounting Cycle 7. Utility costs were incurred in the factory, P450,000. 8. Advertising costs paid, P2,250,000. 9. Prepaid insurance expired during the year, P450,000 (60% related to factory operations and 40% related to selling and administrative expenses).. 10. Depreciation was recorded P900,000 (90% related to factory assets, and 10% related to selling and administrative expenses). 11. Factory overhead was applied to production at the rate of 150% of direct labor cost. 12. Goods completed amounting to P9,000,000 were transferred to the finished goods warehouse. 13. Sales for the year totalled P15,750,000 and were all on account. The total cost to manufacture these goods was P9,450,000. 14. Collection of Accounts Receivable amounting P12,600,000 15. To close the over or under-applied factory overhead. Required: 1. Prepare journal entries 2. Prepare the cost of goods sold statement and statement of comprehensive income. Problem 4: Manufacturing Company Journal Entries The following are the transactions of Rose Corporation for the month of April: 1. Materials purchased on account amounting to PP224,000. Materials requisitioned: P129,500 for production and P20,000 for indirect used.