The balances of selected accounts of Abraham Manufacturing Company are presented below:
\begin{tabular}{lc}
Materials Purchased & P300,000 \\
Direet Materials Used & 100,000 \\
Indirect Materials & \( ? \) \\
Direct Labor & 100,000 \\
Indirect Labor & \( ? \) \\
Other Manufacturing Costs & 200,000 \\
General and Administrative Costs & 70,000 \\
Selling Cost & 130,000
\end{tabular}
Additional Information:
- Indirect Materials used is equivalent to 10\% of Direct Material used.
- Indirect Labor is equivalent to 20\% of Prime Cost
- Work in process inventory had a beginning balance of P550,000 and an ending balance of P200,000.
- Finished goods inventory had a beginning balance of P700,000 and an ending balance of P300,000.
Required: (2 points each, total of 10 points)
1. Total Prime Cost
2. Total Conversion Cost
3. Total Manufacturing Cost
4. Cost of Goods Manufactured
5. Cost of Goods Sold
