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During the month of May 2021, what was the aggregate cost of materials purchases? CoursHeroTranscribedText:...

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Accounting

During the month of May 2021, what was the aggregate cost of materials purchases?

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CoursHeroTranscribedText: X Corp. applies factory overhead to production at 75% of labor cost. The following data are drawn from the company's records: Inventories May 1, 2021 May 31, 2021 Materials P 96,200 P 94,600 Work in process 132,000 148,000 Finished goods 156,000 172,000 Credit sales from January to May 2021 - P500,000 Credit sales from January to April 2021- P400,000 Cash Sales for the month of May 2021-P 200,000 Factory overhead applied - P48,000 Operating expenses - P22,400 Net income - P53,600

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