Solution-Determine the total manufacturing costs

Determine the total manufacturing costs

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Reference no: EM132746726

Question - A Company has budgeted sales at P100,000 and expect a profit of 20% of the sales. Expenses are estimated as follows: selling = 10% of sales; administrative = 10% of sales. Labor is expected to be 50% of the total manufacturing costs. Factory overhead is to be applied at 75% of direct labor costs. Inventories are to be as follows:

	January 1	December 31
Materials	P12,000	P4,000
Work-in-process	3,000	8,000
Finished goods	5,000	10,000

Required -

a. Determine the Cost of goods sold.

b. Determine the Total manufacturing costs.

c. Determine the Factory overhead.

Reference no: EM132746726

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Determine the total manufacturing costs

Reference no: EM132746726

Reference no: EM132746726

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