1.00 Prepare the journal entry to record the purchase of raw materials.

*
Dr. Raw and In Process P356,000; Cr. Accounts Payable P356,000

2.00 Prepare the journal entry to record the transfer of the cost of units completed.
Dr. Finished Goods P373,700; Cr. Raw and In Process P373,700

Raw Materials, Beg. 35,700.00

Purchases 356,000.00
Total Raw Materials 391,700.00
Raw Materials, End - 18,000.00
Direct Materials Used 373,700.00

3.00 Prepare the journal entry to record the payroll and the factory overhead as product costs. *
Dr. Cost of Goods Sold P330,000; Cr. Accrued Payroll P150,000, Factory Overhead P180,000

Product Cost 330,000.00

4.00 Prepare the journal entry to record the transfer of units sold. *

Dr. Cost of sales P390,700; Cr. Finished Goods P390,700

Finished Goods, Beg. 28,000.00

Materials Transferred 373,700.00
Total Goods Available for Sale 401,700.00
Finished Goods, End - 11,000.00
COS 390,700.00
5.00 Prepare the journal entry to adjust the Cost of Goods Sold. *
Dr. Cost of Goods Sold P14,400; Cr. Raw and In Process P2,400, Finished Goods P12,000

Purchases

Cost of Sales 14,400.00

Raw and In Process 2,400.00
Finished Goods 12,000.00
as product costs. *
erhead P180,000
ods P12,000 Raw and In Process Cost of Sales
Beg 42,600.00 376,100.00 330,000.00
Purchases 356,000.00 390,700.00
398,600.00 14,400.00
End 22,500.00 735,100.00

Raw Materials, Beg. 35,700.00

Purchases 356,000.00
Total Raw Materials 391,700.00
Raw Materials, End - 18,000.00
Direct Materials Used 373,700.00
Direct Labor 150,000.00
Factory Overhead 180,000.00
Total Manufacturing Cost 703,700.00
WIP, Beg. 6,900.00
Total Goods In Process 710,600.00
WIP, End - 4,500.00
Total Goods Manufactured 706,100.00
FG, Beg. 45,000.00
Total Goods Available for Sale 751,100.00
FG, End - 16,000.00
COS 735,100.00
 Cost of Sales
330,000.00
390,700.00
14,400.00
735,100.00

-
1. Prepare the journal entry to record the purchase of raw materials. *
Dr. Raw and In Process P444,000; Cr. Accounts Payable P444,000

Raw and In Process 444,000.00

Accounts Payable 444,000.00

2. Prepare the journal entry to record the transfer of the cost of units completed. *
Dr. Finished Goods P443,000; Cr. Raw and In Process P443,000

Raw Materials, Beg. 21,000.00

Purchases 444,000.00
Total Raw Materials 465,000.00
Raw Materials, End - 22,000.00
Direct Materials Used 443,000.00
3. Prepare the journal entry to record the payroll and the factory overhead as product costs. *
Dr. Cost of Goods Sold P399,000; Cr. Accrued Payroll P210,000, Factory Overhead P189,000

210.00

4. Prepare the journal entry to record the transfer of units sold. *

Dr. Cost of Goods Sold P447,000; Cr. Finished Goods P447,000

Finished Goods, Beg. 16,000.00

Materials Transferred 443,000.00
Total Goods Available for Sale 459,000.00
Finished Goods, End - 12,000.00
COGS 447,000.00

5. Prepare the journal entry to adjust the Cost of Goods Sold. *

Dr. Raw and In Process P1,200; Cr. Finished Goods P1,000, Cost of Goods Sold P200

Raw and In Process 1,200.00

Finished Goods 1,000.00
Cost of Sales 200.00

Raw and In Process 1,200.00

Finished Goods 1,000.00
Cost of Sales 200.00
ad as product costs. *
verhead P189,000
1. Prepare the journal entry to record the purchase of raw materials. *

Raw and In Process 146,000.00

Accounts Payable 146,000.00

2. Prepare the journal entry to record the transfer of the cost of units completed. *

Finished Goods 140,400.00

Raw and In Process 140,400.00

Raw Materials, Beg. 10,600.00

Purchases 146,000.00
Total Raw Materials 156,600.00
Raw Materials, End - 16,200.00
Direct Materials Used 140,400.00

3. Prepare the journal entry to record the payroll and the factory overhead as product costs. *

Cost of Goods Sold 180,000.00

Accrued Payroll 80,000.00
Factory Overhead 100,000.00

4. Prepare the journal entry to record the transfer of units sold. *

Cost of Goods Sold 154,100.00
Finished Goods 154,100.00

Finished Goods, Beg 25,200.00

Materials Transferred 140,400.00
Total Goods Available for Sale 165,600.00
Finished Goods, End - 11,500.00
COGS 154,100.00

5. Prepare the journal entry to adjust the Cost of Goods Sold. *

Cost of Goods Sold 1000

Raw and In Process 3400
Finished Goods 4300
 Cost of Goods Sold 1000
Raw and In Process 3400
Finished Goods 4300

1. Compute for the amount of materials backflushed form RIP to Finished Goods *
P140,400

Materials, Beg 10,600.00

Materials Received 146,000.00
Less: Materials in RIP -16200
Backflush 140,400.00

2. Compute for the amount of materials backflushed from Finished Goods to Cost of Goods Sold. *
P154,100

Finished Goods, Beg 25,200.00

Materials Transferred 140,400.00
Total Goods Available for Sale 165,600.00
Finished Goods, End - 11,500.00
COGS 154,100.00

duct costs. *
1. Compute for the amount of materials backflushed from RIP to Finished Goods. *
P217,200

Materials, Beg 28,000.00

Materials Received 230,000.00
Less: Materials in RIP - 12,800.00
Backflush 217,200.00 245,200.00

2. Compute for the amount of materials backflushed from Finished Goods to Cost of Goods Sold. *
P236,700

Finished Goods, Beg 26,200.00 26,200.00

Materials Transferred 217,200.00 245,200.00
Total Goods Available for Sale 243,400.00 271,400.00
Finished Goods, End - 6,700.00 6,700.00
COGS 236,700.00 264,700.00
Goods Sold. *
1. T
2. F
3. T
4. T
5. T
6. T
 COGS
18,200.00 7,100.00
1,000.00 Raw Materials, Beg.
19,200.00 7,100.00 Purchases
12,100.00 Total Raw Materials
Raw Materials, End
Direct Materials Used
Direct Labor
Factory Overhead
Total Manufacturing Cost
WIP, Beg.
Total Goods In Process
WIP, End
Total Goods Manufactured
FG, Beg.
Total Goods Available for Sale
FG, End
COS
terials Used 4,000
10,400
7,800
nufacturing Cost 22,200

ds In Process 22,200
-3600
ds Manufactured 18,600

ds Available for Sale 18,600

-6500
12,100