Craigmont Companys direct materials costs are 4700000 its di

Craigmont Company\'s direct materials costs are $4,700,000, its direct labor costs total $8,530,000, and its factory overhead costs total $6,530,000. Its prime costs total: O $11 230,000. O $13,230,00o. o $6700,000. O $19,760,000 O $15.060,00o.

Solution

Answer = 1 CALCULATION OF THE PRIME COST PARTICULARS AMOUNT Direct Materials $              47,00,000 Direct Labours $              85,30,000 Prime Cost $           1,32,30,000 Answer = Option 2 = $           1,32,30,000 Answer =2 CALCULATION OF THE COST OF GOODS SOLD Cost of Goods Manufactured = $                    34,900 Add: Opening Stock of Finished Goods = $                    15,800 Less: Closing Stock of Finished Goods = $                    19,000 = Cost of Goods Sold $                    31,700 Answer = Option 3 = $                    31,700 Answer =3 CALCULATION OF THE COST OF GOODS MANUFACTURED Amount Amount Current manufacturing costs: Direct Material Used $                    42,200 Direct Labour $                    32,300 Indirect Labour $                       8,000 Indirect Materials $                    15,200 Depreciation - Factory Equipment $                       9,200 $ 1,06,900 Opening Work-in-process, $       8,900 Total costs in process $ 1,15,800 Ending Work-in-process $     10,700 Cost of goods manufactured $ 1,05,100 Answer = Option 5 = $                 1,05,100