Reference no: EM132669267

Data about Maritz Company's production and inventories for the month of June are as follows:

Purchases - Direct materials P143, 440

Freight-in P5, 000

Purchase returns and allowances P2, 440

Direct labor P175, 000

Actual factory overhead P120, 000

Inventories:

Finished goods P68, 000 P56, 000

Work in Process P110, 000 P135, 000

Direct materials P52, 000 P44, 000

Maritz Company applies factory overhead to production at 80% of direct labor cost. Over or under applied overhead is closed to cost of goods sold at year-end. The company's accounting period is on the calendar year basis.

Problem 1: Cost of goods put into process amounts to

Problem 2: Total goods available for sale amounts to