Solution-What is the cost of goods sold under backflush

What is the cost of goods sold under backflush costing

Reference no: EM132739176

Silay Company is employing backflush costing in connection with just-in-time production process. The entity provided the following production data for the year:

The entity acquired direct materials during the year at a cost of P200,000
The entity reported direct labor cost of P400,000.
The actual factory overhead incurred during the year amounted to P340,000.
The standard factory overhead application rate is 75% of direct labor cost.
The ending finished goods inventory is reported at P240,000.

Problem 1: What is the cost of goods sold under backflush costing?

Reference no: EM132739176

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What is the cost of goods sold under backflush costing

Reference no: EM132739176

Reference no: EM132739176

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