The following data was taken from the general ledger and other records of Mrwick Manufacturing...
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Accounting
The following data was taken from the general ledger and other records of Mrwick Manufacturing Co. at January31, the end of the first month of operations in the current fiscal year:
| Sales | P650,000 |
| Inventories at January 31: | |
| Materials inventory | 20,000 |
| Work in process inventory | 32,000 |
| Finished goods inventory | 54,000 |
| Inventories at January 1: | |
| Materials | 25,000 |
| Work in process | 29,000 |
| Finished goods | 48,000 |
| Materials purchased | 154,000 |
| Labor Costs: | |
| Assembly workers' wages | 185,000 |
| Supervisors' salaries | 30,000 |
| Sales personnel salaries | 52,000 |
| Depreciation: | |
| Factory building | 73,000 |
| Sales office | 28,000 |
| Indirect materials used | 3,000 |
| Factory utilities | 67,000 |
| a. | Compute cost of goods manufactured. |
| b. | Determine the cost of goods sold for the month. |
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