Reference no: EM132747060
The following transactions and account balances of MARCELO company are as follows:
Manufacturing cost of 1,000,000.00 ;
Conversion cost of 600,000.00 ;
Sales of 2,500,000.00;
Selling and admin expenses of 550,000.00 ;
Factory overhead control account of 235,000.00 ;
Overhead application rate per labor hour of PHP 6 per hour ;
Increase in Work in process account of 120,000.00 ;
Decrease in Finished Goods Inventory of 250,000.00 ;
Direct labor rate per hour of PHP 10 per hour.
Problem 1: Applied Overhead is equivalent to 60% of Direct labor cost. What is net income before tax?
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