Chapter 1, Problem 18DQ

Do you please solve this general accounting question?

In August, purchases of materials equaled $9,750, the beginning inventory of materials was $850, and the ending inventory of materials was $950. Payments for direct labor during the month totaled $18,570. The Overhead incurred was $15,000. Spent $5,000 on advertising during the month. Admin. costs (primarily accounting & legal services) amounted to $3,000 for the month. Revenues for August were $60,400. 1. What was the cost of materials used during August? 2. What was the prime cost for August? General Accounting

General Accounting Question