Joey Company has materials cost in the June 1 Raw and In Process of P10,000, materials received during June of P205,000 and materials cost in the June 30 Raw and In Process of P12,500

Accounting Jan 20, 2021

Joey Company has materials cost in the June 1 Raw and In Process of P10,000, materials received during June of P205,000 and materials cost in the June 30 Raw and In Process of P12,500. The amount to be backflushed from Raw and In Process to Finished Goods at the end of June would be Your answer

Expert Solution

Answer:

P 202,500

EXPLANATION

Computation of amount to be backflushed from raw material and in process to finished goods at the end of June

Raw and in process of material as on June 1	P 10,000
Add: Material received during the month	205,000
Sub total	215,000
Less: Raw and process of material as on June 30	12,500
Amount to be backflushed from raw and in process to finished goods	202,500

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