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Beirut Company had the following information in relation to its inventory accounts in 2015 (amounts...

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Accounting

Beirut Company had the following information in relation to its inventory accounts in 2015 (amounts in Php):

  • Increase in Raw Materials: 900,000
  • Increase in WorkinProcess: 895,000
  • Decrease in Finished Goods: 120,500
  • Furthermore, the following costs were incurred in the same year:
  • Purchase of raw materials: 1,578,900
  • Labor: 256,700 (125,000 of which is indirect)
  • Taxes and depreciation on factory building: 85,700
  • Taxes and depreciation on sales room and office: 80,500
  • Freightout: 98,000
  • Freightin: 125,600
  • Sales salaries: 160,000
  • Utilities (70% of which is applicable to factory, 10% to showroom, and 20% to administrative office): 567,000

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