Solution-What is the cost of goods sold under backflush

What is the cost of goods sold under backflush costing

Assignment Help Cost Accounting

Reference no: EM132739176

Silay Company is employing backflush costing in connection with just-in-time production process. The entity provided the following production data for the year:

The entity acquired direct materials during the year at a cost of P200,000
The entity reported direct labor cost of P400,000.
The actual factory overhead incurred during the year amounted to P340,000.
The standard factory overhead application rate is 75% of direct labor cost.
The ending finished goods inventory is reported at P240,000.

Problem 1: What is the cost of goods sold under backflush costing?

Reference no: EM132739176

Questions Cloud

State the disadvantages of payback period : It is based on expected cash flows and provide a measure of liquidity. State the advantages and disadvantages of Payback period.

Considering the forces in the global environment : What are the advantages and disadvantages of technological change? How can information technology lead to beneficial changes within the workplace?

Calculate the net capital gain that maria should include : Calculate the net capital gain that Maria should include in her tax return for the year ended 30 June 2020 and any losses

Identify common organization citizenship behaviors : Identify common organization citizenship behaviors and talk about their correlation with job satisfaction. The response must be typed.

What is the cost of goods sold under backflush costing : What is the cost of goods sold under backflush costing? Silay Company is employing backflush costing in connection with just-in-time production process.

What is the joint cost allocated to product tab : Talisay Company is conducting a joint production, What is the joint cost allocated to product Tab if the entity employs relative sales value method?

What were the cash flows from operating activities : Its cash balance at the commencement of the year was $30,000. What were the cash flows from operating activities

What are the differences between job involvement : What are the differences between job involvement, organizational commitment, and job satisfaction? Are all three influenced by the same factors?

Determine the feasible region : Given the following linear optimization problem

User Account

All Pages

What is the cost of goods sold under backflush costing

Reference no: EM132739176

Reference no: EM132739176

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT