Reference no: EM131765966
Question: XYZ Company recorded the following information related to their inventory accounts for January: January 1 January 31 Direct materials 30,000 36,000 Work in process 18,000 12,000 Finished goods 54,000 72,000 XYZ Company's accounting records indicated the following costs had been incurred during January:
Advertising ............................................. $37,000
Depreciation, factory building .......................... 40,000
Rent (70% for factory; 30% for office building) ......... 45,000
Direct labor ............................................ 60,000
Direct materials purchased .............................. 84,000
Indirect materials ...................................... 22,000
Sales commissions ....................................... 35,000
Production supervisor's salary .......................... 50,000
Selling & administrative salaries ....................... 61,000
Utilities, factory building ............................. 14,000
Calculate XYZ Company's prime costs for January. Do not use decimals in your answer.
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