Reference no: EM13320365
a. Conversion cost was 140,000 and was four times the prime cost
b. Direct materials used in production equaled 5,000
c. Cost of goods manufactured was 154,000
d. Ending work in process is 40 percent of the cost of beinning work in process
e. There are no beginning or ending inventories for direct materials
f. Cost of good sold was 110 percent of cost of goods manufactured
g. Beginning finished goods inventory was 22,400
1. Using the above information, prepare a cost of goods manufactured statement
2. Using the above information, prepare a cost of goods sold statement.
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: Conversion cost was 140,000 and was four times the prime cost. Direct materials used in production equaled 5,000
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