Solution-Find for the cost of direct materials used for the

Find for the cost of direct materials used for the year

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Reference no: EM132667694

Red Company uses normal costing.

During the year ended December 31, 2019, the following information were made available:

Total manufacturing costs incurred during the year, P2,200,000;
Cost of goods manufactured amounted to P1,940,000;
Factory Overhead is applied to production at 80% of direct labor cost;
Applied Factory Overhead during the year amounted to 30% of total manufacturing cost;
Beginning work-in-process inventory was 75% of the work-in-process at the end.

Problem 1: Find for the cost of direct materials used for the year ended December 31, 2019.

Reference no: EM132667694

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Find for the cost of direct materials used for the year

Reference no: EM132667694

Reference no: EM132667694

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