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154 identify the following costs as a prime cost b conversion cost c or both for a c 4298968

 

154. Identify the following costs as (a) prime cost, (b) conversion cost, (c) or both for a cake factory.

1. _____ Frosting
2. _____ Wages of the baker
3. _____ Sprinkles for the topping (considered an indirect material)
4. _____ Depreciation on oven 

 

155. Identify the following costs as a (a) product cost or (b) period cost for a cake factory.

1. _____ Frosting
2. _____ Baker’s wages
3. _____ Advertising fees
4. _____ Transportation out 

 

 

156. The Zoe Corporation has the following information for the month March. Determine the (a) cost of goods manufactured, and (b) cost of goods sold.
 

Cost of materials placed in production

$69,000

Direct labor

27,000

Factory overhead

34,000

Work in process, March 1

15,000

Work in process, March 31

19,500

Finished goods inventory, March 1

25,000

Finished goods inventory, March 31

23,000

 

 

 

 

 

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