Can this be done by 7 tonight

The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed:

  Costs incurred:

    Direct labor cost

$

85,000  

    Purchases of raw materials

$

130,000  

    Manufacturing overhead

$

203,000  

    Advertising expense

$

41,000  

    Sales salaries

$

104,000  

    Depreciation, office equipment

$

229,000  

Beginning of the Year

End of the Year

  Inventories:

    Raw materials

$

8,700

$

10,100

    Work in process

$

5,900

$

20,300

    Finished goods

$

78,000

$

25,300

Required:

1.

Prepare a schedule of cost of goods manufactured.

2.

Prepare the cost of goods sold section of Mason Company’s income statement for the year.

Arden Company reported the following costs and expenses for the most recent month:

  Direct materials

$

85,000

  Direct labor

$

47,000

  Manufacturing overhead

$

24,000

  Selling expenses

$

27,000

  Administrative expenses

$

40,000

Required:

1.

What is the total amount of product costs?

2.

What is the total amount of period costs?

3.

What is the total amount of conversion costs?

4.

What is the total amount of prime costs?

Mickley Company’s predetermined overhead rate is $20.00 per direct labor-hour and its direct labor wage rate is $14.00 per hour. The following information pertains to Job A-500:

  Direct materials

$240  

  Direct labor

$140  

Required:

1.

What is the total manufacturing cost assigned to Job A-500?

2.

If Job A-500 consists of 80 units, what is the average cost assigned to each unit included in the job? (Round your answer to 2 decimal places.)

Helix Corporation produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow:

Percent Complete

Units

Materials

Conversion

  Work in process inventory, May 1

81,000  

85

%

50

%

  Work in process inventory, May 31

61,000  

60

%

30

%

  Materials cost in work in process inventory, May 1

$

63,000  

  Conversion cost in work in process inventory, May 1

$

18,800  

  Units started into production

254,400  

  Units transferred to the next production department

274,400  

  Materials cost added during May

$

428,380  

  Conversion cost added during May

$

270,973  

Required:

1.

Assume that the company uses the weighted-average method of accounting for units and costs. Determine the equivalent units for May for the first process.

2.

Compute the costs per equivalent unit for May for the first process. (Round your answers to 2 decimal places.)

3.

Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process in May. (Round your intermediate calculations to 2 decimal places.)