The following data refer to Samsung Company for the year 2020: Sales Revenue P950,000 Work in process inventory, 12/31/20 30,000 Work in process inventory, 1/1/20 40,000 Selling and Administrative expenses 150,000 Income tax expense 90,000 Purchase of raw mateerials 180,000 Raw materials inventory, 12/31/20 25,000 Raw material inventory, 1/1/20 40,000 Direct Labor 200,000 Utilities: plant 40,000 Depreciation: Plant and Equipment 60,000 Finished Goods inventory, 12/31/20 50,000 Finished Goods inventory, 1/1/20 20,000 Indirect Material 10,000 Indirect Labor 15,000 Other manufacturing overhead 80,000 Determne the cost of goods manufactured for 2020?
The following data refer to Samsung Company for the year 2020:
Sales Revenue P950,000
Work in process inventory, 12/31/20 30,000
Work in process inventory, 1/1/20 40,000
Selling and Administrative expenses 150,000
Income tax expense 90,000
Purchase of raw mateerials 180,000
Raw materials inventory, 12/31/20 25,000
Raw material inventory, 1/1/20 40,000
Direct Labor 200,000
Utilities: plant 40,000
Depreciation: Plant and Equipment 60,000
Finished Goods inventory, 12/31/20 50,000
Finished Goods inventory, 1/1/20 20,000
Indirect Material 10,000
Indirect Labor 15,000
Other manufacturing overhead 80,000
Determne the cost of goods manufactured for 2020?
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