Reference no: EM131807437

Manufacturing costs and other accounts of Toy Manufacturing Company appeared in its Dec 31, 2012 trial balance as follows:

Sales                                              P 5,000,000

Raw Materials Purchases                  1,200,000

Direct Labor                                    1,500,000

Office Supplied Used                        7,850

Sales Allowances                             25,000

Freight In                                       28,000

Factory Overhead                            1,750,000

Advertising Expense                         150,000

Delivery Expense                             60,000

Inventories:                         End of 2012       End of 2011

        Finished Goods             P250,000           P320,000

        Work In Process           78,500              65,000

        Materials                     95,000              88,000

Direction: Compute for the

• Total Manufacturing Costs
• Cost of goods manufactured
• Cost of goods sold
• Gross Profit
• Net Income