The following information is provided by Maunlad Mfg. Corp.: Cost of goods manufacturedP470,000 Labor cost100,000 Factory overhead50,000
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Question:
The following information is provided by Maunlad Mfg. Corp.:
Cost of goods manufacturedP470,000
Labor cost100,000
Factory overhead50,000
Finished goods, beg.30,000
Finished goods, end20,000
Cost of goods sold480,000
Raw materials used500% of work in process, end
Work in process, end 75% of work in process, beg.
Raw materials used must be:
a. P300,000b. P290,000c. P450,000d. not given
Expert Answer:
To determine the value of raw materials used we can use the following equation Raw Materials Used Ra... View the full answer
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