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CoursHeroTranscribedText: The following information comes from the accounting records for Chelsea, Inc., for May. Direct...

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Accounting

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CoursHeroTranscribedText: The following information comes from the accounting records for Chelsea, Inc., for May. Direct materials inventory, May 1 $ 9,000 Direct materials inventory, May 31 7,500 Work-in-process inventory, May 1 4,500 Work-in-process inventory, May 31 3,000 Finished goods inventory, May 1 27,000 Finished goods inventory, May 31 36,000 Direct materials purchased during May 120,000 Direct labor costs, May 96,000 Manufacturing overhead, May 126,000 Required Compute for the month of May: a. Total prime costs. b. Total conversion costs. c. Total manufacturing costs. d. Cost of goods manufactured. e. Cost of goods sold

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