The following information comes from the accounting records for Chelsea, Inc., for May: Direct materials inventory, May 1 $ 18,100
Direct materials inventory, May 31 15,700
Work-in-process inventory, May 1 8,500
Work-in-process inventory, May 31 6,600
Finished goods inventory, May 1 54,200
Finished goods inventory, May 31 72,400
Direct materials purchased during May 84,900
Direct labor costs, May 59,000
Manufacturing overhead, May 79,700
Required:
a. Compute the total prime costs for the month of May.
b. Compute the total conversion costs for the month of May.
c. Compute the total manufacturing costs for the month of May.
d. Compute the cost of goods manufactured for the month of May.
e. Compute the cost of goods sold for the month of May.

True or false payroll withholding includes income tax, social security tax, medicare tax as well as money you deduct for your retirement fund.

Powell company began the 2018 accounting period with $40,000 cash, $86,000 inventory, $60,000 common stock, and $66,000 retained earnings. during 2018, powell experienced the following events: sold merchandise costing $58,000 for $99,500 on account to prentise furniture store. delivered the goods to prentise under terms fob destination. freight costs were $900 cash. received returned goods from prentise. the goods cost powell $4,000 and were sold to prentise for $5,900. granted prentise a $3,000 allowance for damaged goods that prentise agreed to keep. collected partial payment of $81,000 cash from accounts receivable. required record the events in a statements model shown below. prepare an income statement, a balance sheet, and a statement of cash flows. why would prentise agree to keep the damaged goods?

The recognition of which of the following expenses exemplifies the application of matching expenses with the revenues they produced? multiple choice(a) cost of goods sold. (b) advertising.(c) president's salary.(d) research and development.