Information about Hannah Industries for the month ending December 31, 2019, is as follows: Sales Cost...

 

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Information about Hannah Industries for the month ending December 31, 2019, is as follows: Sales Cost of goods sold Net operating income Beginning inventories: Direct materials Work in process Finished goods Assume no income taxes or indirect materials. a. Ending direct materials is 10 percent smaller than beginning direct materials. Ending work in process is 75 percent of the beginning work in process. Ending finished goods increased by $15,000 during the year. Prime costs and conversion costs are 60 percent and 80 percent of total manufacturing costs added, respectively. Required: Prepare a statement of cost of goods manufactured for December. C. b. Prepare an absorption income statement for December. Calculate prime costs. $450,000 329,000 22,000 d. Calculate conversion costs. 70,000 28,000 90,000 Information about Hannah Industries for the month ending December 31, 2019, is as follows: Sales Cost of goods sold Net operating income Beginning inventories: Direct materials Work in process Finished goods Assume no income taxes or indirect materials. a. Ending direct materials is 10 percent smaller than beginning direct materials. Ending work in process is 75 percent of the beginning work in process. Ending finished goods increased by $15,000 during the year. Prime costs and conversion costs are 60 percent and 80 percent of total manufacturing costs added, respectively. Required: Prepare a statement of cost of goods manufactured for December. C. b. Prepare an absorption income statement for December. Calculate prime costs. $450,000 329,000 22,000 d. Calculate conversion costs. 70,000 28,000 90,000

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Firstly the various values are computed with given data Working is provided under the below notes Wo... View the full answer