The controller at Lawrence Components asks for your help in sorting out some cost information. She...

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The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, bu

business accounting

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Answer 1

Answer #1

1) Direct material used = prime cost-direct labor = 156000-55000 = 101000

2) Direct material inventory = 101000+15500-79000 = 37500

3) Conversion cost = 275000-101000 = 174000

4) Work in process inventory April 30 = 9300+275000-263000 = 21300

5) Manufacturing overhead = 174000-55000 = 119000

6) Finished goods inventory = 76000+218000-263000 = 31000

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Answer 2

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