Just Answer No. 7 and 8

* Problem No. 2 (x2) ** The Matter Manufacturing Company provided you with the following information for the fiscal year ended December 31 work-in-process inventory, 12/31 Finished goods inventory, 1/ S Direct labor costs incurred Manufacturing overhead costs S Direct materials inventory, 1/1 S Finished goods inventory, 12/31 S Direct materials purchased Work-in-process inventory, 1/1 Direct materials inventory, 12/31 S Required:- 1) Compute the total manufacturing costs incurred during the year 1 S 57,900 307,400 1,004,300 2,684,400 250,800 511,000 1,750,200 101,000 169,400 (250,800+1,750,200 169,400) + 1,004,300+2,693,400 $5,529,300 2) Compute the total work-in-process during the year 101,000+5.529300 $5,630,300 3) Compute the cost of goods manufactured during the year 101,0005.529300 57,900- $5,572,400 4) Compute the cost of goods sold during the year 307,4005.572.400 511,000 $5,368,800 5) Compute the total prime costs for the year (250,800+1,750,200 169,400) 1,004,300 $2,835,900 6) Compute the total conversion costs for the year 1,004,3002,693,400 $3,697,700 7) Review beginning and ending work in process. As an auditor or manager what two questions might you possibly have? 8) Review beginning and ending finished goods inventory. As an auditor or manager what two questions might you possibly have