Saxton Manufacturing Company provided the following information for the year 2018

Inventories 31/12/2017 31/12/2018

Direct Materials $84,000 $60,000

Work-in-Process 24,000 56,000

Finished Goods 99,000 84,000

Other information: Office cleaners wages 5,000

Sales Revenue 1,971,000

Raw materials purchased 360,000

Direct labor 470,000

Indirect materials 60,000

Indirect labor 39,000

Depreciation on factory plant & equipment 89,000

Plant utilities 136,000

Insurance 120,000

Office Utilities 42,000

Depreciation on delivery truck 8,000

Administrative salaries 88,000

Selling expenses 26,000

1 Of the total insurance, 70% relates to manufacturing & 30% relates to general & administrative costs. Requirements:

(A)What was the amount of direct materials used in production?

(B) What was the amount of manufacturing overhead costs?

(C)What is the prime cost and conversion cost of the product?

(D)Prepare a schedule of cost of goods manufactured for the year ended December 31, 2018, clearly showing total manufacturing costs & total manufacturing costs to account for.

(E) Prepare an income statement for Saxton Manufacturing for the year ended December 31, 2018, clearly showing cost of goods sold.

(F) During the year, Saxton Manufacturing Company produced 2,500 units of product. What was the unit product cost?