The following information comes from the accounting records for Chelsea, Inc., for May. Direct...
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Accounting
The following information comes from the accounting records for Chelsea, Inc., for May.
Direct materials inventory, May 1$18,600Direct materials inventory, May 3114,700Work-in-process inventory, May 19,700Work-in-process inventory, May 315,000Finished goods inventory, May 153,200Finished goods inventory, May 3172,200Direct materials purchased during May84,900Direct labor costs, May59,900Manufacturing overhead, May80,700
Required:
a.Compute the total prime costs for the month of May.
b.Compute thetotal conversion costs for the month of May.
c.Compute the total manufacturing costs for the month of May.
d.Compute thecost of goods manufactured for the month of May.
e.Compute thecost of goods sold for the month of May.
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