Please help. Thank you! Kaizen Company manufactures specialty mugs sold to...
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Kaizen Company manufactures specialty mugs sold to various gourmet coffee shops and has recently decided to implement a Just-in-time (JIT) costing system. Transactions for the month of April were as follows: a. Raw materials were purchased at the cost of P593,750. b. All materials purchased were acquired for production. c. Direct labor costs of P1,562,500. d. Actual factory overhead costs amounted to P3,750,000. e. Applied conversion cost totaled P5,062,500. This included P1,562,500 of direct labor. f. All units were completed. Compute the amount to be backflushed from Raw and In Process (RIP) to Finished Goods. P1,937,500 O P1,312,500 P593,750 P1,593,750
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