Reference no: EM132067561

The following information comes from the accounting records for Chelsea, Inc., for May:

Direct Materials Inventory, May 1..............................$9000

Direct Materials Inventory, May 31............................$7500

Work-in-process inventory, May 1.............................$4500

Work-in-process inventory, May 31............................$3000

Finished Goods inventory, May 1..............................$27000

Finished Goods inventory, May 31.............................$36000

Direct materials purchased during May......................$120000

Direct labor costs, May...............................................$96000

Manufacturing overhead, May....................................$126000

Required

Compute for the month of May:

a. Total prime costs

b. Total conversion costs

c. Total manufacturing costs

d. Cost of goods manufactured

e. Cost of goods sold

Any tips for how to accurately input this into Excel?