1. The following information pertains to Isaac Enterprises for December 2017: Factory Overhead: Indirect materials $25,000...

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1. The following information pertains to Isaac Enterprises for December 2017: Factory Overhead: Indirect materials $25,000 Indirect labor 26,000 Utilities in factory building 42,000 Depreciation on factory building 40,000 Selling and administrative expenses $48,000 Sales revenue 500,000 Purchases of direct materials 125,000 Direct labor 140,000 Inventories December 1 December 31 Direct materials Work in process $30,000 $35,000 40,000 38,000 Finished goods 25,000 28,000 Calculate the following assuming there are no income taxes: a. Direct materials used b. Cost of goods manufactured c. Cost of goods sold d. Operating income e. Prime costs f. Conversion costs 1. The following information pertains to Isaac Enterprises for December 2017: Factory Overhead: Indirect materials $25,000 Indirect labor 26,000 Utilities in factory building 42,000 Depreciation on factory building 40,000 Selling and administrative expenses $48,000 Sales revenue 500,000 Purchases of direct materials 125,000 Direct labor 140,000 Inventories December 1 December 31 Direct materials Work in process $30,000 $35,000 40,000 38,000 Finished goods 25,000 28,000 Calculate the following assuming there are no income taxes: a. Direct materials used b. Cost of goods manufactured c. Cost of goods sold d. Operating income e. Prime costs f. Conversion costs