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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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
Transcribed Image Text:Direct materials:
Beginning inventory
Purchases
Ending inventory
Direct manufacturing labor
Manufacturing overhead
Beginning work-in-process inventory
Ending work-in-process inventory
Beginning finished goods inventory
Ending finished goods inventory
P 40,000
123,200
20,800
32,000
24,000
8,000
1,600
48,000
32,000
Required:
A. What is the cost of direct materials used during 2022?
B. What is cost of goods manufactured for 2022?
C. What is cost of goods sold for 2022?
D. What amount of prime costs was added to production during 2022?
E. What amount of conversion costs was added to production during 2022?
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