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beigewasp862Lv1
28 Sep 2019
The following information comes from the accounting records for Chelsea, Inc., for May:
Direct materials inventory, May 1 $ 18,100 Direct materials inventory, May 31 15,700 Work-in-process inventory, May 1 8,500 Work-in-process inventory, May 31 6,600 Finished goods inventory, May 1 54,200 Finished goods inventory, May 31 72,400 Direct materials purchased during May 84,900 Direct labor costs, May 59,000 Manufacturing overhead, May 79,700
Required:
a. Compute the total prime costs for the month of May.
Total Prime Cost ?
b. Compute the total conversion costs for the month of May.
Total Conversion Cost ?
c. Compute the total manufacturing costs for the month of May.
Total Manufacturing Cost ?
d. Compute the cost of goods manufactured for the month of May.
Cost of Goods Manufactured ?
e. Compute the cost of goods sold for the month of May.
Cost of Good Solds ?
The following information comes from the accounting records for Chelsea, Inc., for May:
Direct materials inventory, May 1 | $ | 18,100 |
Direct materials inventory, May 31 | 15,700 | |
Work-in-process inventory, May 1 | 8,500 | |
Work-in-process inventory, May 31 | 6,600 | |
Finished goods inventory, May 1 | 54,200 | |
Finished goods inventory, May 31 | 72,400 | |
Direct materials purchased during May | 84,900 | |
Direct labor costs, May | 59,000 | |
Manufacturing overhead, May | 79,700 | |
Required:
a. Compute the total prime costs for the month of May.
Total Prime Cost | ? |
b. Compute the total conversion costs for the month of May.
Total Conversion Cost | ? |
c. Compute the total manufacturing costs for the month of May.
Total Manufacturing Cost | ? |
d. Compute the cost of goods manufactured for the month of May.
Cost of Goods Manufactured | ? |
e. Compute the cost of goods sold for the month of May.
Cost of Good Solds | ? |
Elin HesselLv2
28 Sep 2019