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Need help with A-C, thanks QUESTION II. 20 POINTS The following information is taken from the records of Montreal Company for March Purchases Direct materials
Need help with A-C, thanks
QUESTION II. 20 POINTS The following information is taken from the records of Montreal Company for March Purchases Direct materials Indirect materials Office supplies $9,000,000 $200,000 $420,000 Sales $36,000,000 Salaries and Benefits Selling and administrative Direct manufacturing labour $4,000,000 $6,000,000 Rent Utilities Advertising $4,000,000 $1,200,000 $700,000 Inventories March 1 March 31 Direct materials $4,400,000 $1,600,000 Indirect materials $500,000 $ 600,000 Office supplies $150,000 $180,000 Finished goods $24,000,000 $16,000,000 *Of these costs, 60 percent are assigned to manufacturing and 40 percent to selling and administration Required: Prepare a schedule of cost of goods manufactured b. Prepare an income statement for the month c. Compute the prime costs, conversion costs, and indirect manufacturing costs a Step by Step Solution
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