1.

The following data has been taken from the accounting records of Curtis Manufacturing Company for the current year:

Sales	$600,000
Purchases of raw materials	350,000
Direct labor cost during period	120,000
Manufacturing overhead incurred during period	60,000
Raw Materials Inventory, beginning	20,000
Raw materials Inventory, ending	25,000
Work in Process Inventory, beginning	47,000
Work in Process Inventory, ending	32,000
Finished Goods Inventory, beginning	75,000
Finished Goods Inventory, ending	82,000

Required:

Compute the amount of raw materials moved into production during the period.

Compute the amount transferred to finished goods during the period.

Compute the amount of goods sold during the period.

2.

The Assembly Division of Mounds Corporation makes a component part that the Packaging Division needs to purchase. The Assembly Divisions variable cost of manufacturing the component is $25 per unit. The component is also available on the open market at a price of $52. The Packaging Division needs 800 units of the component and the Assembly Division has excess capacity of 1,000 units. Required:

Calculate the cost-based-transfer price that the Assembly division should charge the Packaging division.

Calculate the market-based transfer price that the Assembly division should charge the Packaging division.