Reference no: EM132780301
Questions -
Q1. If the percentage of overall gross margin on sales is 15 and the final sales value of whole production is Php 2,000,000, then compute the gross margin (in Php)?
Q2. If value of final sales is Php 48,000 and the net realizable value is Php 35,000, then compute the value of sales costs (in Php)?
Q3. If the final sales value is Php 50,000 and further processing cost is Php 35,000, then compute the net realizable value (in pesos)?
Q4. If the net realizable value is Php 20,000 and further processing cost is Php18,000, then compute the final sales value (in pesos)?
Q5. AAA Inc. is employing a sophisticated just in time manufacturing system. The company uses back flush costing for recording its production. The following transactions occurred for the year ended December 31, 2019:
Purchased Php170,000 raw materials on account
All materials purchased were requisitioned for production
Incurred direct labor costs of Php80,000
Actual factory overhead cost amounted to P122,000
All telephones were completed and sold
What is the cost of goods sold for the year ended December 31, 2019?
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