Question

The following items (in millions) pertain to the Chan Corporation:
Chan’s manufacturing cost system uses a three-part classification of manufacturing costs. There are two prime costs and one conversion cost: direct materials, direct manufacturing labour, and indirect manufacturing costs.
REQUIRED
1. Identify the prime costs. Identify the conversion costs.
2. Prepare an income statement and a supporting schedule of cost of goods manufactured.


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  • CreatedJuly 31, 2015
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