1/21 PRACTICAL ACCOUNTING PROBLEMSII Multiple Choice-Cost Accounting 1 Paula Com

Question

1/21 PRACTICAL ACCOUNTING PROBLEMSII Multiple Choice-Cost Accounting 1 Paula Company had invevntories at the 96 000 5 000 20 000 Paula's cost of goods sold for 2003 was P 921,000 b. 958,000 P960 000 979 000 2. Heth Company had the folewing inventones at the beginning and of March 2003 P 30.000 Work in process 18.000 2000 The following addtional manufacturing cost data were available for the month of March 60.000 The cost off goods manufactured for March 2003 as P230.000 a P212.000 b 218.000 d 236.000 Item 3 and 4 are based on the following data: Job 101 was the only pbr, process at Jwuary 31 with acamated om Direct labor Applied factory over Job 102. 100, and 104 were startéd duning Febnuany Direct materiais requisitions tor February botaled P28,000 Dired labor cost ef P20000 as incurred for Fetruary ovehead The only job sle in process on Febary 28as Job 104, with conts of P2.800 for divec materials and P1 800 for direct labr 3 The cost of goods manufactured for Febuary was b. 78.000 d. 85.000 This is the first page Modo -manage your online data. Learn More>

Explanation / Answer

too many questions posted and as per policy i have to solve one
1)cost of goods sold= Beg finished goods+cost of goods mfg-ending finished goods
mfg costs=rawmaterial+labour+overhead
raw material =Beg raw mat+purchases-ending raw mate
=55000+400000-65000=390000
mfg cots=390000+220000+330000=940000
cost of goods mfg=beg wip+mfg costs-ending wip
=96000+940000-80000=956000
cost of goods sold=50000+956000-85000=921000
It is option A

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