Items 1 through 3 are based on the following information pertaining to Arp Co.’s manufacturing operations:
|
Inventories |
3/1/05 |
3/31/05 |
|
Direct materials |
$36,000 |
$30,000 |
|
Work in process |
18,000 |
12,000 |
|
Finished goods |
54,000 |
72,000 |
Additional information for the month of March 2005:
|
Direct materials purchased |
$84,000 |
|
Direct manufacturing labor payroll |
60,000 |
|
Direct manufacturing labor rate per hour |
7.50 |
|
Factory overhead rate per direct labor hour |
10.00 |
For the month of March 2005, prime cost was
- $ 90,000
- $120,000
- $144,000
- $150,000
For the month of March 2005, conversion cost was
- $ 90,000
- $140,000
- $144,000
- $170,000
For the month of March 2005, cost of goods manufactured was
- $218,000
- $224,000
- $230,000
- $236,000