Essay
Evans Inc., had the following activities during 2018:
Direct materials: 
Required:
a.What is the cost of direct materials used during 2018?
b.What is cost of goods manufactured for 2018?
c.What is cost of goods sold for 2018?
Assume that Evans uses a two-part classification system for prime and conversion costs.
d.What amount of prime costs was added to production during 2018?
e.What amount of conversion costs was added to production during 2018?
Correct Answer:
Verified
a.$40,000 + $123,200 -$20,800 = $142,400...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q105: Inventoriable costs are reported as an asset
Q106: A cost is classified as a direct
Q107: Sheen Manufacturing has four manufacturing cost pools
Q108: Use the information below to answer the
Q109: Parksville, Inc., reports the following information for
Q111: Sheen Manufacturing has four manufacturing cost pools
Q113: Use the information below to answer the
Q114: Use the information below to answer the
Q115: Work-in-process consists of partially completed goods not
Q159: Manufacturing sector firms normally hold three types