The Swiss Manufacturing Company uses raw and in process (RIP) inventory account. At the end of each month, all inventories are counted, their conversion costs components are estimated, and inventory account balances are adjusted accordingly. Raw materials cost is backflushed from RIP account to finished goods account. The following data is for the month of August: Beginning balance of RIP account including Conversion costs of 4,800 = P38,700; Raw materials purchased = 680,000; Ending balance of RIP account including Conversion costs of 5,300= 41,900; Conversion Cost Allocated = 190,000.Determine the amount of direct materials to be backflushed to finished goods are:

Determine the amount of conversion costs included in cost of goods sold.

Answer rating: 100% (QA)

Total RIP account balance 38700 41900 Particulars Allocated conversion c... View the full answer