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The controller at Edmonton Precision Manufacturing asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for August: Cost Category Prime costs, August Total manufacturing costs, August Amount $215,000 $342,000 Cost of goods manufactured, August $338,000 Cost of goods sold, August $310,000 Direct material inventory, August 31 $45,000 Work-in-process inventory, August 1 $56,000 Finished goods inventory, August 31 $120,000 Direct materials purchased, August $132,000 Direct labor costs, August $103,000 Compute for the month of August: a. Direct materials used, August. b. Direct material inventory, August 1.

The controller at Edmonton Precision Manufacturing asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for August: Cost Category Prime costs, August Total manufacturing costs, August Amount $215,000 $342,000 Cost of goods manufactured, August $338,000 Cost of goods sold, August $310,000 Direct material inventory, August 31 $45,000 Work-in-process inventory, August 1 $56,000 Finished goods inventory, August 31 $120,000 Direct materials purchased, August $132,000 Direct labor costs, August $103,000 Compute for the month of August: a. Direct materials used, August. b. Direct material inventory, August 1.

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter2: Accounting For Materials
Section: Chapter Questions
Problem 17E: Davis Co. uses backflush costing to account for its manufacturing costs. The trigger points are the...
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The controller at Edmonton Precision Manufacturing asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for August: Cost Category Prime costs, August Total manufacturing costs, August Amount $215,000 $342,000 Cost of goods manufactured, August $338,000 Cost of goods sold, August $310,000 Direct material inventory, August 31 $45,000 Work-in-process inventory, August 1 $56,000 Finished goods inventory, August 31 $120,000 Direct materials purchased, August $132,000 Direct labor costs, August $103,000 Compute for the month of August: a. Direct materials used, August. b. Direct material inventory, August 1.
Transcribed Image Text:The controller at Edmonton Precision Manufacturing asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for August: Cost Category Prime costs, August Total manufacturing costs, August Amount $215,000 $342,000 Cost of goods manufactured, August $338,000 Cost of goods sold, August $310,000 Direct material inventory, August 31 $45,000 Work-in-process inventory, August 1 $56,000 Finished goods inventory, August 31 $120,000 Direct materials purchased, August $132,000 Direct labor costs, August $103,000 Compute for the month of August: a. Direct materials used, August. b. Direct material inventory, August 1.
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