Reference no: EM132893726
Question -
A. The following information was taken from the records of Tri Company:
Increase in Finished Goods $36,500
Purchases 70,000
Increase in work in process 18,200
Direct labor 84,875
Decrease in raw materials 9,700
Work in process, beginning 64,000
Total costs placed in process 310,000
1. What is The amount of cost of goods sold? Show solution.
2. What is The amount of applied factory overhead? Show solution.
b. The following information pertains to barley Company's manufacturing operations:
Decrease in raw materials. 6,000
Direct labor payroll 60,000
Decrease in work in process 8,000
Direct labor rate / hour 7.50
Increase in finished goods 18,000
Factory overhead rate per hour 10
Purchases 84,000
1. What is the amount of prime cost? Show solution.
2. What is the amount of conversion cost? Show solution.