1. Cost of Goods Manufactured, Cost Identification, Solving for Unknowns

   Allright Test Design Company creates, produces, and sells Internet-based CPA and CMA review courses for individual use. Davis Webber, head of human resources, is convinced that question development employees must have strong analytical and problem-solving skills. He asked Andrea Benson, controller for Allright Test Design, to help develop problems for use in screening applicants before they are interviewed. One of the problems Andrea developed is based on the following data for a mythical company (Mythic, Inc.) for the previous year:

   1. Conversion cost was $138,000 and was four times the prime cost.
   2. Direct materials used in production equaled $5,100.
   3. Cost of goods manufactured was $149,900.
   4. Ending work in process is 60 percent of the cost of beginning work in process.
   5. There are no beginning or ending inventories for direct materials.
   6. Cost of goods sold was 110 percent of cost of goods manufactured.
   7. Beginning finished goods inventory was $22,090.

   Required:

   1. Using the above information, prepare a cost of goods manufactured statement.

   Mythic, Inc.
   Statement of Cost of Goods Manufactured
   For the Previous Year
   	$fill in the blank 6e88c904d03ffaa_2
   	fill in the blank 6e88c904d03ffaa_4
   	fill in the blank 6e88c904d03ffaa_6
   	$fill in the blank 6e88c904d03ffaa_8
   	fill in the blank 6e88c904d03ffaa_10
   	fill in the blank 6e88c904d03ffaa_12
   Cost of goods manufactured	$fill in the blank 6e88c904d03ffaa_13

   2. Using the above information, prepare a cost of goods sold statement.

   Mythic, Inc.
   Statement of Cost of Goods Sold
   For the Previous Year
   	$fill in the blank 0561e6f6103af80_2
   	fill in the blank 0561e6f6103af80_4
   	$fill in the blank 0561e6f6103af80_6
   	fill in the blank 0561e6f6103af80_8
   Cost of goods sold	$fill in the blank 0561e6f6103af80_9