The Yellville Company Provided You with the Following Information for the Fiscal

question 56

Essay

The Yellville Company provided you with the following information for the fiscal year ended December 31.
$\begin{array}{lr}\text { Work-in-process inventory, } 12 / 31 & \$ 115,800 \\\text { Finished goods inventory, } 1 / 1 & 614,800 \\\text { Direct labor costs incurred } & 2,008,600 \\\text { Manufacturing overhead costs } & 5,368,800 \\\text { Direct materials inventory, } 1 / 1 & 501,600\\\text { Finished goods inventory, } 12 / 31 & 1,022,000 \\\text { Direct materials purchased } & 3,500,400 \\\text { Work-in-process inventory, } 1 / 1 & 202,000 \\\text { Direct materials inventory, } 12 / 31 & 338,800\end{array}$

Required:
(a) Compute the total manufacturing costs incurred during the year.
(b) Compute the total work-in-process during the year.
(c) Compute the cost of goods manufactured during the year.
(d) Compute the cost of goods sold during the year.
(e) Compute the total prime costs for the year.
(f) Compute the total conversion costs for the year.

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Definitions:

Revised Uniform Partnership Act

An updated set of laws that provide a legal framework for the formation, operation, and dissolution of partnerships in the United States.

RUPA

The Revised Uniform Partnership Act, which regulates the operation of partnerships within the United States.

Partnership Law

Legal regulations that govern the formation, operation, and dissolution of partnerships.

Partnership Obligations

The duties, responsibilities, and liabilities assumed by partners in a business partnership, as dictated by law or agreement.