Fundamentals of Cost Accounting: Costs and Goods
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The Following information comes from the accounting records for Santa Cruz, Inc. for March:
Direct material inventory, March 1 $6,000.00
Direct material inventory, March 31 5,000.00
Work-in-process inventory, March 1 3,000.00
Work-in-process inventory, March 31 2,000.00
Finished goods inventory, March 1 18,000.00
Finished goods inventory, March 31 24,000.00
Direct material purchased during March 80,000.00
Direct labor costs, March 64,000.00
Manufacturing overhead, March 84,000.00
Required:
Compute, for the month of March:
A. Total prime costs
B. Total conversion costs
C. Total manufacturing costs
D. Cost of goods manufactured
E. Cost of goods sold
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Solution Summary
The solution computes - Total prime costs, Total conversion costs, Total manufacturing costs, Cost of goods manufactured
and Cost of goods sold
Solution Preview
Check the attached sheet.
Cost of Goods Manufactured Schedule
Direct Material used
Direct material inventory, March 1 6,000.00
Direct material purchased during March 80,000.00
Total raw material ...
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