Manufacturing costs and other accounts of Toy Manufacturing Company appeared in its Dec 31, 2012 trial balance as follows:
Sales P 5,000,000
Raw Materials Purchases 1,200,000
Direct Labor 1,500,000
Office Supplied Used 7,850
Sales Allowances 25,000
Freight In 28,000
Factory Overhead 1,750,000
Advertising Expense 150,000
Delivery Expense 60,000
Inventories: End of 2012 End of 2011
Finished Goods P250,000 P320,000
Work In Process 78,500 65,000
Materials 95,000 88,000
Direction: Compute for the
- Total Manufacturing Costs
- Cost of goods manufactured
- Cost of goods sold
- Gross Profit
- Net Income