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  • Compute Cost of Goods Manufactured

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    Jess Siazon
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    SM Inc. manufactured chemical A-4 in August with direct labor costs of P485,000 of which 93% or P451,050 was direct labor. Direct materials costs were P365,000 of which 90% or P329,500 was direct materials. Opening work in process was P176,250 and closing work in process was P135,000.5. Factory overhead applied was 125% of direct labor costs of P451,050 which is P563,812.50. The total cost of goods manufactured is the sum of direct labor, direct materials, opening work in process, factory overhead, and closing work in process which is P1,725,612.50.

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    SM Inc. manufactured chemical A-4 in August with direct labor costs of P485,000 of which 93% or P451,050 was direct labor. Direct materials costs were P365,000 of which 90% or P329,500 was direct materials. Opening work in process was P176,250 and closing work in process was P135,000.5. Factory overhead applied was 125% of direct labor costs of P451,050 which is P563,812.50. The total cost of goods manufactured is the sum of direct labor, direct materials, opening work in process, factory overhead, and closing work in process which is P1,725,612.50.

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    © All Rights Reserved
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    12 views1 page

    Compute Cost of Goods Manufactured

    Uploaded by

    Jess Siazon
    SM Inc. manufactured chemical A-4 in August with direct labor costs of P485,000 of which 93% or P451,050 was direct labor. Direct materials costs were P365,000 of which 90% or P329,500 was direct materials. Opening work in process was P176,250 and closing work in process was P135,000.5. Factory overhead applied was 125% of direct labor costs of P451,050 which is P563,812.50. The total cost of goods manufactured is the sum of direct labor, direct materials, opening work in process, factory overhead, and closing work in process which is P1,725,612.50.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    15. SM Inc.

    has manufactured chemical A-4 in August at the following costs: Labor of

    P485,000 of which 93% represent direct labor; Materials of P365,000 of which 90%

    represent direct materials; Opening work in process of P176,250; and Closing work in

    process inventory of P135,000.5; Factory overhead applied is 125% of direct labor costs

    and includes indirect materials and indirect labor.

    Compute cost of goods manufactured.

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