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Question - On May 1, 2021, PETER Company purchased raw materials to be used in production. The cost accountant used the relative peso value method to allocate freight in (A - 0.28125; B - 0.325; and C - 0.39375) and provided the following information as follows:
Type
Weight in Pounds
Invoice Price
Total Cost
Cost per pound
A
?
11,250
3.294
B
5,000
13,325.00
C
6,500
2.484
The freight cost amounted to P1,000.
1. If the cost per unit of Material A is 3.294, calculate the weight in pounds of Material A.
A. 3,000
B. 2,500
C. 3,200
D. 3,500
2. Compute for Material B's invoice price.
A. P15,750
B. P13,000
C. P13,500
D. P15,550
3. Calculate the TOTAL cost of purchases for Material C.
A. P15,773.23
B. P16,133.75
C. P16,143.75
D. P15,223.55
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