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What are the prime costs, conversion costs, and period costs
What are the prime costs, conversion costs, and period costs 1. ThecostofgoodssoldfortheImmaculateCorporationforthemonthofApril2016was$450,000.Work-in-processinventoryattheendofAprilwas95percentofthework-in-processinventoryatthebeginningofthemonth.Overheadis80percentofthedirectlaborcost.Duringthemonth,$110,000ofdirectmaterialswerepurchased.RevenuesforImmaculatewere$600,000,andthesellingandadministrativecostswere$70,000. OtherinformationaboutImmaculate'sinventoriesandproductionforAprilwasasfollows: Endinginventories-April30 Direct materials $19,000 Work in process ? Finishedgoods 105,000 Beginninginventories-April1 Required: a. Prepareacostofgoodsmanufacturedandcostofgoodssoldstatements. b. Prepareanincomestatement. c. What are the prime costs, conversion costs, and period costs ? Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help
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27 May 2016
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What are the prime costs, conversion costs, and period costs
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