1. COST CONCEPTS

2. COST CLASSIFICATIONS

3. COST CLASSIFICATIONS

4. COST CLASSIFICATIONS

5. COST CLASSIFICATIONS

19. ANS.1. Total manufacturing cost: Prime cost $501,000 Factory overhead 175,000 Total manufacturing cost $676,000

20. ANS.2. Cost of goods manufactured: Work in process at January 1 $235,000 Total manufacturing cost 676,000 Work in process at January 31 (251,000) Cost of goods manufactured $660,000

21. ANS.3.
Cost of goods sold:
Finished goods at January 1 $125,000
Cost of goods manufactured ,000
Finished goods at January 31 (117,000)
Cost of goods sold $668,000