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1. Information from the records of the Abigail Enterprises for the month of March 2024 is as follows: Depreciation on factory machinery Direct labor
1. Information from the records of the Abigail Enterprises for the month of March 2024 is as follows: Depreciation on factory machinery Direct labor Indirect labor Purchases of direct materials Rent on factory building Sales Selling and administrative expenses Direct materials Work in process Finished goods Assume an income tax rate of 30 percent. Required: a. Calculate direct materials used for March. b. Calculate cost of goods manufactured for March. C. Calculate gross profit for March. d. Calculate after-tax net income for March. e. Calculate conversion costs for March. f. Calculate prime costs for March. $15,000 35,000 17,000 64,000 23,000 260,000 21,000 Inventories March 1 March 31 $25,000 $24,000 8,000 10,000 14,000 16,000
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