Solution-Determine the balance of the raw and in process

Determine the balance of the raw and in process inventory

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Reference no: EM132791998

Question - Peter Senen Corp. uses backflush costing system to records its production transactions. During September 2019, Peter Senen produced 450,000 units and sold 447,000 units. The standard cost for each product is:

Direct Materials P2

Conversion costs 4

The company had no beginning inventories. The following transactions took place during the month of September Purchased P906,000 of raw material incurred P1,820,000 of conversion costs.

Applied P1,825,000 of conversion cost to Raw and In process Inventory.

Finished 450,000 units

Sold 447,000 units for P12.00/unit

Determine the balance of the Raw and in Process Inventory for the month of September?

a. P906,000

b. P1,825,000

c. P31,000

d. P18,000

Reference no: EM132791998

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Determine the balance of the raw and in process inventory

Reference no: EM132791998

Reference no: EM132791998

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