Problem $3(10$ marks$)$

Cohen Manufacturing has the following data at Jan $31$:

Inventories:

$\backslash$table$[[$Raw materials inventory,$$,20,000,$$$,10,000],[$Work in process inventory,$$,78,000,$$$,43,000],[$Finished goods inventory,$$,34,000,$$$,19,000]]$

Other information for January:

$\backslash$table$[[$Raw Material Puchases,$$,45,000],[$Direct labour incurred,$$,98,000],[$Sales$,$$$,400,000],[$Factory Rent,$$,12,000],[$Sales office furniture depreciation,$$,2,000],[$Factory Equipment depreciation,$$,5,000],[$CEO Salary,$$,40,000],[$Factory receptionist salary,$$,5,000],[$Factory Equipment maintenance,$$,3,000],[$Sales manager salary,$$,12,000]]$

Required:

What are the total prime costs for Cohen Manufacturing? What are the total conversion costs? $(2)$

marks$)DM=20000+45000-10000=$$$5Q000$

Prime cost $=50,000+98,000$

conversion cost $=98,000+25000$

$=$$$148,000$

$(1)=$$$123,000$

Prepare a schedule of cost of goods manufactured and cost of goods sold for the month $($$ marks$)$

Direct material

DL

ranufactuning oft

Toter manufertrig cost

Beg WIP

end WIP

$\backslash$table$[[,$$$208,000$