How the direct materials used

Reference no: EM132667091

For June MLT Company had cost of good manufactured equal to P150, 000; materials purchases, P33, 000; depreciation of factory assets, P17, 000; cost of goods sold, P150, 000; expired insurance on factory assets, P2, 000; cost of goods available for sale, P190, 000; and total factory labor, P49, 000. Inventories were as follows

June 1 June 30

Materials P25, 000 P30, 000

Work in Process P50, 000 P40, 000

General factory overhead of P13, 000 was incurred in June; this figure includes all factory overhead except indirect labor, indirect materials, depreciation and insurance. Direct labor cost for the month was six times larger than indirect labor cost. The cost of indirect materials used was P1, 000. The company uses a single materials account for direct and indirect materials.

Problem 1: The direct materials used

Problem 2: Finished goods inventory, June 1

Reference no: EM132667091

Questions Cloud

What is the beginning balance of finished goods inventory : What is the beginning balance of Finished Goods Inventory? Brand Company manufactures computer stands. Cost of Goods Sold is P125, 000, the ending balance

M3H324724 Mechanical Engineering Design Assignment : M3H324724 Mechanical Engineering Design Assignment Help and Solution, Glasgow Caledonian University - Assessment Writing Service

How cost of raw materials used for the period amounted to : How cost of raw materials used for the period amounted to? The accounting records for 2008 of EGGS Manufacturing Company showed

Distinguish between informal and formal leadership : Distinguish between informal and formal leadership. Explain how informal leaders influence others and how this impacts a health care organization.

How the direct materials used : How the direct materials used.For June MLT Company had cost of good manufactured equal to P150, 000; materials purchases, P33, 000

Description of environmental problem of water scarcity : Description of the environmental problem of water scarcity. Describe a basic environmental health intervention

How the given may affect the health care organization : Patient portals and other Internet-based applications are often used in health care in the United States. These systems rely upon the commercial use of an.

Describe how current research supports the picot : A literature review analyzes how current research supports the PICOT, as well as identifies what is known and what is not known in the evidence.

Explain virtue ethics and care ethics : Explain virtue ethics and care ethics and discuss how these approaches offer an alternative to the deontological and utilitarian focus on how we should act.

User Account

All Pages