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Problem 1-5. The following costs were actually incurred in the production of 10,000 units of...

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Accounting

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Problem 1-5. The following costs were actually incurred in the production of 10,000 units of Product A: Raw materials, of which 10% is indirect Factory labor, of which 20% is indirect labor Factory overhead, other than indirect materials and indirect labor P1,200,500 1,045,000 900,000 Factory overhead charged to production is equivalent to 110% of direct labor costs. At the end of the period, inspection revealed that the total costs of goods manufactured is equal to P2,837,500 while costs of unfinished job is 20% of total factory costs. Compute for the work in process at the beginning of the period

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