Please post your answers in this assignment - Hint: if you are familiar with excel you might want to use to complete the assignment.

Answer all questions:

1) Purchases = $92,000

Materials Inventory, Beginning = $6000

Materials Inventory, Ending = $8000

Direct Labor = $25,000

Factory Overhead = $37,000

Work In Process, Beginning = $22,000

Work in Process, Ending = $18,500

Finished Goods Inventory, Beginning = $21,000

Finished Goods Inventory, Ending = $25,000

Sales = $257,000

Selling and Administrative Expenses = 479,000

Required: Which of the above accounts would appear on an Income Statement ?

2) Refer to #1. Which of the above accounts would appear on a Statement of Cost of Goods Manufactured ?

3) Refer to #1. Compute total manufacturing costs

4) Refer to #1. Compute prime costs at end of period

5) Refer to #1. Compute conversion costs