Reference no: EM132934728
Question - The following data appeared in Moline Company's records on December 31:
Direct Materials Inventory, Dec. 31 P 535,500
Direct Materials purchased during the year 2,268,000
Finished Goods Inventory, Dec. 31 567,000
Indirect labor 201,600
Direct labor 2,520,000
Factory heat, light, and power 234,360
Factory depreciation 396,900
Administrative salaries 323,820
Miscellaneous factory cost 200,970
Marketing costs 233,100
Other administrative costs 113,400
Maintenance on factory equipment 76,230
Insurance on factory equipment 119,700
Distribution costs 10,080
Taxes on manufacturing property 82,530
Legal fees on customer complaint 51,660
Direct materials put into production 2,407,230
Work-in-Process Inventory, Dec. 31 154,980 On
January 1, the Finished Goods Inventory account had a balance of P280,000, and the Work-in-Process Inventory account had a balance of P90,650. Sales revenue for the year was P6,687,500.
How much is the company's beginning direct materials inventory?
How much is the company's gross profit?
How much is the company's prime cost?
How much is the company's manufacturing overhead?