The accountant at Roland Industries provides you with the following information for the first quarter:Direct labor costs$ 262,000Direct materials inventory, January 126,700Direct materials inventory, March 3123,100Direct materials purchased during the quarter331,500Finished goods inventory, January 167,000Finished goods inventory, March 3186,400Manufacturing overhead for the quarter353,000Work-in-process inventory, January 117,700Work-in-process inventory, March 3114,900Required:a. Compute the following. 1. Total prime costs2. Total conversion costs3. Total manufacturing costs4. Cost of goods manufactured5. Cost of goods soldHAHAHAHAH⠀⠀⠀⠀E183333⠀⠀⠀⠀

Answer : 1. Total prime cost Total prime cost = Direct material used + Direct labor Total prime cost…

Answered: chased during the quarter 331,500…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Direct labor costs	$ 262,000
Direct materials inventory, January 1	26,700
Direct materials inventory, March 31	23,100
Direct materials purchased during the quarter	331,500
Finished goods inventory, January 1	67,000
Finished goods inventory, March 31	86,400
Manufacturing overhead for the quarter	353,000
Work-in-process inventory, January 1	17,700
Work-in-process inventory, March 31	14,900

Required:

a. Compute the following.

1. Total prime costs
2. Total conversion costs
3. Total manufacturing costs
4. Cost of goods manufactured
5. Cost of goods sold
HAHAHAHAH⠀⠀⠀⠀E
183333⠀⠀⠀⠀

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions