Reference no: EM131873825

Problem - Homer Inc. had the following activities during 2012:

Direct materials:

Beginning inventory $ 20,000

Purchases 61,600

Ending inventory 10,400

Direct manufacturing labor 16,000

Manufacturing overhead 12,000

Selling and Administrative Expenses 10,000

Beginning work-in-process inventory 800

Ending work-in-process inventory 4,000

Beginning finished goods inventory 24,000

Ending finished goods inventory 16,000

Units Produced 100

Required:

a. What is the cost of direct materials used during 2012?

b. What is cost of goods manufactured for 2012?

c. What is cost of goods sold for 2012?

d. What amount of prime costs was added to production during 2012?

e. What amount of conversion costs was added to production during 2012?