Question

10:16 Expert Q&A + 156,000 213,00264200 The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for April: Prime costs, April Total manufacturing costs, April Cost of goods manufactured, April 275000 Cost of goods sold, April Direct material inventory, April 30 ( 15,500 Work-in-process inventory, April 1 Finished goods inventory, April 30 Direct materials purchased, April 93 600 Direct labor costs, April Required: a. Compute the direct material used for the month of April. b. Compute the direct material inventory as of April 1. c. Compute the conversion cost for the month of April. d. Compute the work-in-process inventory as of April 30. e. Compute the manufacturing overhead for the month of April. f. Compute the finished goods inventory as of April 1. 9.300 58,000 82, 303 Direct material used for april 98 = 0

156,000
275,000
264,000
213,000
15,500
9,300
79,000
82,000
58,000
Direct material used for April 98,000

Please show ur work step by step thank you

Don't do the requirements above the questions
DO THIS REQUIREMENTS
a. compute the direct material inventory as of April 1
b. compute the conversation cost for the month of April
c. compute the work in process inventory as of april 30
d. compute the manufacturing overhead for the month of April
e. compute the finished goods inventory as of april 1

Answer 1

a. Direct materials used in the month of April = Prime costs - Direct Labor costs = $ 156,000 - $ 58,000 = $ 98,000

b. Direct materials inventory, April 1 = $ 31,500

Materials Inventory
Direct materials, April 1	31,500	Direct materials used	98,000
Direct materials purchased	82,000
Direct materials, April 30	15,500

c. Conversion cost for the month of April = Total manufacturing costs - Direct materials used = $ 275,000 - $ 98,000 = $ 177,000

d. Work in process inventory, April 30 : $ 20,300

Work in Process Inventory
Bal, April 1	9,300	Cost of Goods Manufactured	264,000
Total manufacturing costs	275,000
Bal., Apr 30	20,300

e. Manufacturing overhead for April = Total conversion costs - Direct labor cost = $ 177,000 - $ 58,000 = $ 119,000

f. Finished goods inventory, April 1 = Finished Goods Inventory, April 30 + Cost of Goods Sold - Cost of Goods Manufactured = $ 79,000 + $ 213,000 - $ 264,000 = $ 28,000