provide the following: work in process in Jan 1, 2022, finished goods in dec 31, 2022 and amount of purchased materials in 2022 Problem 6Asia Career Company. a manufacturing entity shows the following amounts in thecost of goods sold statement and the statement of comprehensive income for the year2022Required:MaterialsWork in processFinished goodsMaterials usedJanuary 1, 2022P 125,000Cost of goods soldCost of goods manufacturedTotal manufacturing costs100,0001. Work in process, January 1, 2022.Finished goods. December 31, 20222.3. Amount of materials purchased in 2022December 31, 2022P 187,500108,750737,500937.5001,000,000987,500

1. Work in process, January 1,2022 Cost of goods manufactured = Beginning WIP +Total…

Problem 6 Asia Career Company. a manufacturing entity shows the following amounts in the cost of goods sold statement and the statement of comprehensive income for the 2022 year January 1, 2022 P 125.000 Materials Work in process Finished goods Materials used Cost of goods sold Cost of goods manufactured Total manufacturing costs 100,000 Required: 1. Work in process, January 1, 2022 Finished goods, December 31, 2022 2. 3. Amount of materials purchased in 2022 December 31, 2022 P 187,500 108,750 737,500 937,500 1,000,000 987,500

Problem 6 Asia Career Company. a manufacturing entity shows the following amounts in the cost of goods sold statement and the statement of comprehensive income for the 2022 year January 1, 2022 P 125.000 Materials Work in process Finished goods Materials used Cost of goods sold Cost of goods manufactured Total manufacturing costs 100,000 Required: 1. Work in process, January 1, 2022 Finished goods, December 31, 2022 2. 3. Amount of materials purchased in 2022 December 31, 2022 P 187,500 108,750 737,500 937,500 1,000,000 987,500

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter1: Introduction To Managerial Accounting

Section: Chapter Questions

Problem 5PB: Statement of cost of goods manufactured and income statement for a manufacturing company The...

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