Check my work5The following information comes from the accounting records for Chelsea, Inc., for May.Direct materials inventory, May 1Direct materials inventory, May 31Work-in-process inventory, May 1Work-in-process inventory, May 31Finished goods inventory, May 1Finished goods inventory, May 31Direct materials purchased during MayDirect labor costs, MayManufacturing overhead, May$ 9,0007,5004,5003,0003.points27,00036,000120,000еВook96,000126,000PrintRequired:a. Compute the total prime costs for the month of May.b. Compute the total conversion costs for the month of May.c. Compute the total manufacturing costs for the month of May.d. Compute the cost of goods manufactured for the month of May.e. Compute the cost of goods sold for the month of May.Referencesа.Total prime costsb.Total conversion costsС.Total manufacturing costsd.Cost of goods manufacturedе.Cost of goods sold

Name: Check my work5The following information comes from the accounting rec
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Description: Check my work5The following information comes from the accounting records for Chelsea, Inc., for May.Direct materials inventory, May 1Direct materials inventory, May 31Work-in-process inventory, May 1Work-in-process inventory, May 31Finished goods i

Total Prime cost = Direct materials + Direct Labor Conversion costs = Direct labor + Manufacturing…

Business

Accounting

Required: a. Compute the total prime costs for the month of May. b. Compute the total conversion costs for the month of May. c. Compute the total manufacturing costs for the month of May. d. Compute the cost of goods manufactured for the month of May. e. Compute the cost of goods sold for the month of May.

Required: a. Compute the total prime costs for the month of May. b. Compute the total conversion costs for the month of May. c. Compute the total manufacturing costs for the month of May. d. Compute the cost of goods manufactured for the month of May. e. Compute the cost of goods sold for the month of May.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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