Solution-What is the cost of goods sold under backflushing

What is the cost of goods sold under backflushing costing

Reference no: EM132804279

Question - 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

Required - What is the cost of goods sold under backflushing costing?

Reference no: EM132804279

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What is the cost of goods sold under backflushing costing

Reference no: EM132804279

Reference no: EM132804279

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