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Question - Vangogh, Inc. had the following information in its 2020 Work in Process Inventory account:
Beginning Balance: 20,000
Materials added: 300,000
Direct Labor Cost: 180,000
Applied Overhead: 240,000
Ending Inventory: 70,000
All workers are paid at the rate rate of P18 per hour. Overhead is applied on the basis of direct labor hours. The only work left in process at the end of the month had a total of 1.430 direct labor hours.
Determine the direct material cost of the work in process at the end.
Determine the conversion cost of the work in process at the end.
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