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Compute for the cost of goods sold for the period

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Reference no: EM132656185

Information during current month

  • Production in units, 25,000
  • Raw Materials used, P500,000 of which P50,000 is indirect
  • Factory labor hours utilized, 2,000 hours. This include 200 hours worked as overtime. The regular rate is P50 per hour and the overtime premium is 30%.
  • Factory overhead applied to the job is P2 per unit plus P80,000 per month
  • Selling expenses, P1 per unit plus P65,000 per month
  • Administrative expenses, P2 per unit plus P80,000 per month
  • Sales for the current month, 22,000 units at 40% mark-up on cost.

Problem 1: Compute for the cost of goods sold for the period.

Problem 2: Compute for the net income or loss from operation.

Reference no: EM132656185

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