Question Details

Determineprimeandconversioncosts



1.	InformationfromtherecordsoftheMaloneyCompanyforthemonthofMay2016isasfollows:

Purchasesofdirectmaterials	$54,000
Indirectlabor	15,000
Directlabor	31,200
Depreciationonfactorymachinery	9,000
Sales	165,900
Sellingandadministrativeexpenses	18,900
Rentonfactorybuilding	21,000

Inventories
	May1,2016	May31,2016
Directmaterials	$24,000	$26,100
Workinprocess	6,300	9,600
Finishedgoods	15,000	17,100
Required:		

a.	PrepareastatementofcostofgoodsmanufacturedforthemonthofMay.
b.	PrepareanincomestatementforthemonthofMay.
c.	Determineprimeandconversioncosts.



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