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Compute for the cost of direct materials used

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Reference no: EM132767316

Problem - The Showroom Manufacturing Company indicated the following inventories in its return statement of financial position:

 

For the year ended

 

2012

2011

Raw Materials

P33,700

P36,500

Work In Process

74,450

83,750

Finished Goods

21,900

25,450

Additional information for the year 2009 shows that:

Sales P280,000

Direct labor 45,000

Total manufacturing costs incurred 241,300

Raw material purchases 50,000

Operating expenses 14,600

Required - Compute for the cost of direct materials used, cost of goods manufacturing cost of goods sold, and the net income for 2012.

Reference no: EM132767316

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