The following information relates to EAZ Company for the yearended December 31, 2018: Raw materials P200,000 Direct Labo
Posted: Tue Apr 26, 2022 9:44 am
The following information relates to EAZ Company for the yearended December 31, 2018:
Raw materials
P200,000
Direct Labor
100,000
Indirect Materials
5,000
Indirect Labor
47,000
Factory utilities
18,000
Factory rent
36,000
Depreciation - Factory Equipment
24,000
Sales
960,000
Selling Expenses
120,000
Administrative expenses
240,000
Income tax rate
30%
January 1
December 31
Raw Materials Inventory
P20,000
P16,000
Work In Process Inventory
18,000
15,000
Finished Goods Inventory
24,000
21,000
Required:
Raw materials
P200,000
Direct Labor
100,000
Indirect Materials
5,000
Indirect Labor
47,000
Factory utilities
18,000
Factory rent
36,000
Depreciation - Factory Equipment
24,000
Sales
960,000
Selling Expenses
120,000
Administrative expenses
240,000
Income tax rate
30%
January 1
December 31
Raw Materials Inventory
P20,000
P16,000
Work In Process Inventory
18,000
15,000
Finished Goods Inventory
24,000
21,000
Required: