The controller at Lawrence Components asks for your help in sorting out some cost information She is called to a meeting, but hands you the following information for April Prime costs, April $ 151,000 Total manufacturing costs, April 270,000 Cost of goods manufactured, April 269,000 Cost of goods sold, April 220,000 Direct material inventory, April 30 15,300 Work in process inventory, April 1 9,700 Finished goods inventory, April 30 79,000 Direct materials purchased, April 82,000 Direct labor costs, April 57,000 Required a Compute the direct material used for the month of April Direct Material Used b Compute the direct material inventory as of April 1 Direct Material Inventory c Compute the conversion cost for the month of April Conversion Cost d Compute the work in process inventory as of April 30 Work In Process Inventory e Compute the manufacturing overhead for the month of April Manufacturing Overhead f Compute the finished goods inventory as of April 1 Finished goods inventory

The Answer is in the image, click to view ...

Question: The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the

The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for April:


Prime costs, April	$	151,000
Total manufacturing costs, April		270,000
Cost of goods manufactured, April		269,000
Cost of goods sold, April		220,000
Direct material inventory, April 30		15,300
Work-in-process inventory, April 1		9,700
Finished goods inventory, April 30		79,000
Direct materials purchased, April		82,000
Direct labor costs, April		57,000

Required:

a. Compute the direct material used for the month of April.

Direct Material Used

b. Compute the direct material inventory as of April 1.

Direct Material Inventory

c. Compute the conversion cost for the month of April.

Conversion Cost

d. Compute the work-in-process inventory as of April 30.

Work-In-Process Inventory

e. Compute the manufacturing overhead for the month of April.

Manufacturing Overhead

f. Compute the finished goods inventory as of April 1.

Finished goods inventory

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for April. Prime costs, April Total...

The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for Apri Prime costs, April Total...

The following information comes from the accounting records for Chelsea, Inc., for May. Direct materials inventory, May 1 Direct materials inventory, May 31 Work-in-process inventory, May 1...

The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for April Prime costs, April Total...

Sophia's Restaurant served 6,400 meals last quarterSophia recorded the following costs with those meals. $ 15, 400 13,300 , 4,800 Variable costs : Ingredients used Direct labor Indirect materials and...

KHI Cn 123 Save Help Save & Exit Submit 5 The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following...

I need help with this accounting problem. The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following...

156,000 275,000 264,000 213,000 15,500 9,300 79,000 82,000 58,000 Direct material used for April 98,000 Please show ur work step by step thank you Don't do the requirements above the questions DO...

The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following Information for April. Prime costs, April Total...

What are the four key aspects of the Sarbanes-Oxley Act of 2002?

At the end of its first year of operations, the trial balance of Rafael Company shows Equipment $30,000 and zero balances in Accumulated Depreciation Equipment and Depreciation Expense. Depreciation...

Professor Wendy Smith has been oflered the following opportunity: A law firm would like to retain her for an uphront payment of $ 5 0 , 0 0 0 . In return, for the next year the firm would have access...

10) For a bond that pays cash interest (i.e., not a zero coupon bond), YTM is (a) always equal to the coupon rate (b) always equal to the current yield (c) is always less than the coupon rate (d) can...

Write a sentence that repeats key words to emphasize that communication technology helps create a global society.

Use length. You want to help students at a local high school understand the importance of performing well on their upcoming ACT test for college admission. Express this idea in a sentence giving...

Write a sentence that uses location to emphasize the importance of effective interpersonal relationships to job success.