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Data about Maritz Company's production and inventories for the...

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Accounting

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Data about Maritz Company's production and inventories for the month of June are as follows: Purchases - Direct materials P143, 440 Freight-in P5,000 Purchase returns and allowances P2, 440 Direct labor P175.000 Actual factory overhead P120,000 Inventories: Finished goods P68,000 P56,000 Work in Process P110.000 P135.000 Direct materials P52, 000 P44, 000 Maritz Company applies factory overhead to production at 80% of direct labor cost. Over or under applied overhead is closed to cost of goods sold at year-end. The company's accounting period is on the calendar year basis. Total goods available for sale amounts to

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