Reference no: EM132625395

Zuluwiee Industries provides you the following data:

Cost of goods sold: $3,600,000

Raw Materials Used: $1,500,000

Labor Cost: $1,000,000

Factory Overhead: $1,000,000

Ending inventory of work in process and beginning inventory of finished goods inventories are 50% and 83 1/3% of beginning inventory of work in process, respectively. Finished goods inventory, end is 140% of finished goods inventory, beginning.

Problem a: Compute for the following:

1. Prime Cost

2. Conversion Cost

3. Cost of goods manufactured

Problem b: What is the difference between solving for prime cost, conversion cost, and cogs?