Reference no: EM132721532

Problem 1: Calculate direct materials used, prime cost, manufacturing overhead, conversion cost, costs of goods manufactured , costs of goods sold and operating income

Receptionist Salaries $ 28,250
Office Manager Salaries $ 43,600
Beginning Finished Goods Inventory $ 21,500
Ending Finished Goods Inventory $ 34,500
Depreciation on Factory Building $ 14,500
Insurance on Factory and Equipment $ 7,500
Indirect Labor Cost $ 9,000
Property taxes on Factory Building $ 12,250
Indirect Materials Used $ 12,000
Beginning Direct Materials Inventory $ 10,500
Ending Direct Materials Inventory $ 11,500
Sales Revenue $ 393,500
Direct Materials Purchased $ 26,500
Direct labor $ 83,000
Sales Persons Salaries $ 70,000
Sales Travel Allowances $ 20,000
Beginning Work-In-Process Inventory $ 15,250
Ending Work-in-Process Inventory $ 8,750