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4.Inventory balances for Balmer Company in April 2018 are as follows: April 1, 2018 April 30,...

4.Inventory balances for Balmer Company in April 2018 are as follows: April 1, 2018 April 30, 2018 Raw materials $ 40,000 $ 35,000 Work in process 67,500 59,800 Finished goods 150,000 120,000 During April, purchases of direct materials were $58,000. Direct labor and factory overhead costs were $82,000 and $110,000, respectively.

Prime costs for April were:

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Answer #1

Answer:

Prime costs for April were:145,000

Working notes for the above answer is as under

Prime costs calculation

= Direct materials cost + Direct labor cost

= ($40,000 + $58,000 − $35,000) + $82,000

= $145,000

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