Information from the Records of Masibo Company for the Last

question 46

Essay

Information from the records of Masibo Company for the last month is as follows: $$\begin{array}{l}\begin{array} { l r } \text { Purchases of direct materials } & \$ 65,000 \\\text { Indirect labor } & 25,000 \\\text { Direct labor } & 32,500 \\\text { Depreciation on factory machinery } & 12,000 \\\text { Sales } & 205,900 \\\text { Selling and administrative expenses } & 21,000 \\\text { Rent on factory building } & 28,000\end{array}\\\text { Inventories }\\\begin{array} { l c r } & \text { Beginning } & \text { Ending } \\\text { Direct materials } & \$ 30,000 & \$ 30,100 \\\text { Work in process } & 9,000 & 10,100 \\\text { Finished goods } & 22,000 & 20,100\end{array}\end{array}$$
Required:
a.Prepare a statement of cost of goods manufactured for the last month.
b.Prepare an income statement for the last month.
c.Determine prime and conversion costs.

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Definitions:

Central Nervous System

The major part of the nervous system consisting of the brain and spinal cord, which integrates and processes nervous information.

Spinal Cord

A long, thin, tubular structure made up of nervous tissue, which extends from the medulla oblongata in the brainstem down to the lumbar region of the vertebral column.

Prefrontal Cortex

The front part of the frontal lobes of the brain, involved in complex behaviors such as decision making, planning, and moderating social behavior.

Delayed-response Task

A test of memory and cognitive function requiring an individual to remember a stimulus or information over a period of time before responding.