Reference no: EM133118022

Question - The following information relates to Salamat Corporation for the last year. Salamat uses direct labor hours as an overhead base.

Estimated direct labor hours 360,000 hours

Estimated manufacturing overhead costs P90,000

Actual manufacturing overhead costs P108,840

Applied manufacturing overheads costs P120,000

Cost of Goods Sold P500,000

Required -

1. What was the actual number of direct labor hours worked last year at Salamat Corporation?

2. What is the adjusted balance of the Cost of Goods Sold?