What is the cost of raw materials inventory on august

Assignment Help Cost Accounting

Reference no: EM132667116

The following data were taken from the record of Best Company

08/31/2019 09/30/2019

Inventories

Raw Materials ? P50,000

Work in process P80,000 P95,000

Finished Goods P60,000 P78,000

Raw materials purchases P46,000

Factory overhead, P63,000 which is 75% of direct labor cost

Selling and Administrative Expenses, 12.5%, P25,000

Net Income for September,2011, P25,000

Problem 1: What is the cost of raw materials inventory on August 31, 2019?

Reference no: EM132667116

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