Question

The following information comes from the accounting records for Santa Inez, Inc., for July:
Direct materials inventory, July 1. . . . . . . . . . . . . . . . . . . . . . . $ 12,000
Direct materials inventory, July 31. . . . . . . . . . . . . . . . . . . . . . 10,000
Work-in-process inventory, July 1 . . . . . . . . . . . . . . . . . . . . . . 6,000
Work-in-process inventory, July 31 . . . . . . . . . . . . . . . . . . . . . 4,000
Finished goods inventory, July 1 . . . . . . . . . . . . . . . . . . . . . . . 36,000
Finished goods inventory, July 31 . . . . . . . . . . . . . . . . . . . . . . 48,000
Direct materials purchased during July . . . . . . . . . . . . . . . . . . 160,000
Direct labor costs, July . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 128,000
Manufacturing overhead, July . . . . . . . . . . . . . . . . . . . . . . . . . 168,000

Required
Compute for the month of July:
a. Total prime costs.
b. Total conversion costs.
c. Total manufacturing costs.
d. Cost of goods manufactured.
e. Cost of goods sold.
(CPA adapted)



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  • CreatedDecember 18, 2013
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