Information from the Records of Masibo Company for the Last

Essay

Information from the records of Masibo Company for the last month is as follows: $$\begin{array}{l}\begin{array} { l r } \text { Purchases of direct materials } & \$ 65,000 \\\text { Indirect labor } & 25,000 \\\text { Direct labor } & 32,500 \\\text { Depreciation on factory machinery } & 12,000 \\\text { Sales } & 205,900 \\\text { Selling and administrative expenses } & 21,000 \\\text { Rent on factory building } & 28,000\end{array}\\\text { Inventories }\\\begin{array} { l c r } & \text { Beginning } & \text { Ending } \\\text { Direct materials } & \$ 30,000 & \$ 30,100 \\\text { Work in process } & 9,000 & 10,100 \\\text { Finished goods } & 22,000 & 20,100\end{array}\end{array}$$
Required:
a.Prepare a statement of cost of goods manufactured for the last month.
b.Prepare an income statement for the last month.
c.Determine prime and conversion costs.