Transcribed Image Text: B. G. Bello, a general manager of a highly automated coffee production plant in Laguna, has provided the following information for transactions that occurred during October. The

Transcribed Image Text: B. G. Bello, a general manager of a highly automated coffee production plant in Laguna, has
provided the following information for transactions that occurred during October. The
production plant uses a JIT costing system.
a. Raw materials costing P300,000 were purchased.
b. All materials purchased were requisitioned for production.
c. Direct labor costs of P200,000 were incurred.
d. Actual factory overhead costs amounted to P995,000.
e. Applied conversion costs totaled P1,300,000. This includes the direct labor
cost.
f. All units are completed and immediately sold.
Compute for the following:
_10. Under / (Over) applied conversion cost
_11. How much is the Cost of Goods Sold after all transactions-adjustments
have been completed?

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