Information from the records of the Maloney Company for the month of May 2016 is as...
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Information from the records of the Maloney Company for the month of May 2016 is as follows: Purchases of direct materials Indirect labor Direct labor Depreciation on factory machinery Sales Selling and administrative expenses Rent on factory building Direct materials Work in process Finished goods Required: Inventories May 1, 2016 $24,000 6,300 15,000 $54,000 15,000 31,200 9,000 165,900 18,900 21,000 May 31, 2016 $26,100 9,600 17,100 a. Prepare a statement of cost of goods manufactured for the month of May. b. Determine prime and conversion costs. Information from the records of the Maloney Company for the month of May 2016 is as follows: Purchases of direct materials Indirect labor Direct labor Depreciation on factory machinery Sales Selling and administrative expenses Rent on factory building Direct materials Work in process Finished goods Required: Inventories May 1, 2016 $24,000 6,300 15,000 $54,000 15,000 31,200 9,000 165,900 18,900 21,000 May 31, 2016 $26,100 9,600 17,100 a. Prepare a statement of cost of goods manufactured for the month of May. b. Determine prime and conversion costs.
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Direct materials Raw materials inventory Opening Raw materials purchases Raw materials availa... View the full answer
Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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