P27. Given the following data for TMC during January 200X Cost of goods sold 120,000 Material...
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P27. Given the following data for TMC during January 200X |
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Cost of goods sold |
120,000 |
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Material purchased |
40,000 |
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Finished goods were decreased by |
3,000 |
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Work in process inventory increased by |
4,000 |
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Direct material inventory decreased by |
2,000 |
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Factory overhead applied based on |
3 |
times of direct labor costs |
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Find 1) Conversion costs 2) Prime costs |
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Homework Answers
Direct material used = 40000+2000 = 42000
Cost of goods manufactured = 120000-3000 = 117000
Total manufacturing cost = 117000+4000 = 121000
1) Conversion Cost = 121000-42000 = 79000
2) Direct labor =79000/4 = 19750
Prime cost = 19750+42000 = 61750
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P27. Given the following data for TMC during January 200X
Cost of goods sold
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