These data relates to Judy Company’s July 2020 operations:
Materials, beginning P 7,000 Materials, Ending P9,000
WIP, Beginning 7,500 WIP, Ending 3,500
Finished Goods, beg. 10,000 Finished Goods, End. 12,000
Materials used 46,800 Direct Expenses 400
Selling and general expenses 6,700 Direct Labor 8,000
Factory overhead is applied at the rate of 80% of direct labor cost.
Required:
Compute for the following (Show your solution) :
1. Cost of materials purchased
2. Cost of goods manufactured
3. Cost of goods sold and
4. Conversion Cost