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    lain slng
    The schedule shows the cost of goods manufactured for Floral Company for the year ended December 31, 2020. It includes direct materials used of P1,518,000, direct labor of P550,000, and manufacturing overhead of P220,000 for a total manufacturing cost of P2,288,000. Adding beginning work in process of P85,000 and subtracting ending work in process of P58,000 results in a total cost of goods manufactured of P2,315,000.

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    Assignment Far1

    Uploaded by

    lain slng
    29 views1 page
    The schedule shows the cost of goods manufactured for Floral Company for the year ended December 31, 2020. It includes direct materials used of P1,518,000, direct labor of P550,000, and manufacturing overhead of P220,000 for a total manufacturing cost of P2,288,000. Adding beginning work in process of P85,000 and subtracting ending work in process of P58,000 results in a total cost of goods manufactured of P2,315,000.

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    The schedule shows the cost of goods manufactured for Floral Company for the year ended December 31, 2020. It includes direct materials used of P1,518,000, direct labor of P550,000, and manufacturing overhead of P220,000 for a total manufacturing cost of P2,288,000. Adding beginning work in process of P85,000 and subtracting ending work in process of P58,000 results in a total cost of goods manufactured of P2,315,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    29 views1 page

    Assignment Far1

    Uploaded by

    lain slng
    The schedule shows the cost of goods manufactured for Floral Company for the year ended December 31, 2020. It includes direct materials used of P1,518,000, direct labor of P550,000, and manufacturing overhead of P220,000 for a total manufacturing cost of P2,288,000. Adding beginning work in process of P85,000 and subtracting ending work in process of P58,000 results in a total cost of goods manufactured of P2,315,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
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    3.

    1 Floral Company
    Schedule of Cost of Goods Manufactured
    For the Year ended December 31, 2020

    Direct Material:
    Raw Materials Inventory, beg P 53,000.00
    Add: Raw Materials Purchases 1,500,000.00
    Raw Materials Available 1,553,000.00
    Less: Raw Materials Inventory, end 35,000.00
    Direct Materials used in Production P 1,518,000.00
    Direct Labor 550,000.00
    Manufacturing Overhead 220,000.00
    Total Manufacturing Cost 2,288,000.00
    Add: Work in Process, beg 85,000.00
    Less: Work in Process, end 58,000.00
    Cost of Goods Manufactured 2,315,000.00

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