Conversion cost was $133,000 and was four times the prime cost. b. Direct materials used in...

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Conversion cost was $133,000 and was four times the prime cost. b. Direct materials used in production equaled $5,300. c. Cost of goods manufactured was $145,800. d. Ending work in process is 50 percent of the cost of beginning work in process. e. There are no beginning or ending inventories for direct materials. f. Cost of goods sold was 110 percent of cost of goods manufactured. g. Beginning finished goods inventory was $22,460. Required: 1. Using the given information, prepare a cost of goods manufactured statement. Mythic, Inc. Statement of Cost of Goods Manufactured For the Previous Year Direct materials Direct labor Manufacturing overhea Total current manufacturing c‹ ▾ Add: Beginning work in proce Less: Ending work in proce Cost of goods manufactured 2. Using the given information, prepare a cost of goods sold statement. Mythic, Inc. Statement of Cost of Goods Sold For the previous Year Cost of goods manufactur 5,300 Add: Beginning finished goo Cost of goods available for s Less: Ending finished goo Cost of goods sold Conversion cost was $133,000 and was four times the prime cost. b. Direct materials used in production equaled $5,300. c. Cost of goods manufactured was $145,800. d. Ending work in process is 50 percent of the cost of beginning work in process. e. There are no beginning or ending inventories for direct materials. f. Cost of goods sold was 110 percent of cost of goods manufactured. g. Beginning finished goods inventory was $22,460. Required: 1. Using the given information, prepare a cost of goods manufactured statement. Mythic, Inc. Statement of Cost of Goods Manufactured For the Previous Year Direct materials Direct labor Manufacturing overhea Total current manufacturing c‹ ▾ Add: Beginning work in proce Less: Ending work in proce Cost of goods manufactured 2. Using the given information, prepare a cost of goods sold statement. Mythic, Inc. Statement of Cost of Goods Sold For the previous Year Cost of goods manufactur 5,300 Add: Beginning finished goo Cost of goods available for s Less: Ending finished goo Cost of goods sold

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To prepare the cost of goods manufactured statement and the cost of goods sold statement well use the provided information and some calculations Cost of Goods Manufactured Statement Mythic Inc Stateme... View the full answer