Question

Please help me figure out how to compute this question.

Compute company's cost for January.

a) Prime cost

b) total manufacturing cost

c) Cost of Goods manufactured

d) Cost of good sold

e) Manufacturing account balance on Jan 31st

Check m Required informetion The folowno intornaton epoies o the questions B dir/company man ufactures finger splints for kids who get ten ga firm had whg iventoniés at the beglning and end of the menth bt inished goods $ 124,006 ,000 134,000 $ 117,00e 251,000 24,000 roceSS 237 Raw material ing addition data pertain to January operations Ra material purchased 190 300,000 175,00 120,0e abor Actual manufacturing overhead gelling and administrative expenses e company ap manufacturing overhead at the rate of 60 percent of direct-labor cost Any overapplied or ed manufactur rhead is a lated until the end of the year Requir ut pany's prime cost for January

Answer 1

Direct material consumed 200000

Direct labour 300000

Prime cost 500000

Actual manufacturing overhead 175000

Total manufacturing cost 675000

Opening work in progress 237000

Closing work in progress 251000

Cost of goods manufactured 661000

Opening finished goods 124000

Closing finished goods 117000

Cost of goods sold 668000

Actual selling and administrative overhead 120000

Cost of sales 788000