Question
THE FOLLOWING INFORMATION IS USED FOR QUESTIONS 1 - 6. Quiz Company reported the following information for the month of July. Sales $550,000 Materials purchases
THE FOLLOWING INFORMATION IS USED FOR QUESTIONS 1 - 6. Quiz Company reported the following information for the month of July.
Sales $550,000
Materials purchases 64,000
Direct labor 43,500
Overhead 108,750
Selling costs 94,000
Administrative costs 183,500
Raw materials inventory, July 1 40,000
Work-in-process inventory, July 1 21,000
Finished goods inventory, July 1 23,200
Raw materials inventory, July 31 19,800
Work-in-process inventory, July 31 32,500
Finished goods inventory, July 31 22,100 1. Determine the cost of direct materials used for the month ended July 31
2. Determine the cost of goods manufactured for the month ended July 31
3. Determine the cost of goods sold for the month ended July 31
4. Determine operating income for the month ended July 31
5. Determine the prime cost for the month ended July 31
6. Determine the conversion cost for the month ended July 31
Giveanswer using dollar signs and commas but no decimal points (cents). Example: $12,345 QUESTION 6 1.
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