Compute for the cost of materials purchased

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Reference no: EM132743476

These data relates to Leni Company's July 2020 operations:

Materials, beginning P 7,000          Materials, Ending P9,000

WIP, Beginning 7,500                  WIP, Ending 3,500

Finished Goods, beg. 10,000          Finished Goods, End. 12,000

Materials used 46,800                 Direct Expenses 400

Selling and general expenses 6,700    Direct Labor 8,000

Factory overhead is applied at the rate of 80% of direct labor cost.

Required:

Problem a: Compute for the following (Show your solution in the space provided) :

1. Cost of materials purchased

2. Cost of goods manufactured

3. Cost of goods sold and

4. Conversion Cost

Reference no: EM132743476

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