Answer Happy

You have been asked by the CEO of Mountaineer Co. to assist in
analyzing product costs. This analysis is used in internal
decision-making and in reporting to investors. The following
Tableau Dashboard provides data needed for the analysis.
Raw Materials, Beginning - $60,000
Raw Materials purchases -$140,000
Raw Materials, Ending - $64,000
Rent expense-Factory - $45,000
Repairs expense- Factory - $11,500
Factory utilities - $9,500
Factory supplies used (indirect materials) - $14,000
indirect labor - $38,000
Sales - $1,000,000
General and administrative expenses - $103,500
Selling Expenses - $75,000
Work in Process & Finished Goods Inventories Work in Process Finished Goods $50,000 54,000 50,000 $40,000 43,000 $30,000 33,000 $20,000 $10,000 $0 Beginning Ending Beginning Ending Additional Data Accounts receivable, net Cash Direct labor $150,000 $350,000 $180,000
Prepare the current assets section of the balance sheet for the current year ended December 31. Mountaineer Co. Partial Balance Sheet December 31 Inventories 0 Total current assets $ 0
Compute the total prime costs. Direct materials Raw materials available for use 0 Direct materials used 0 Total prime costs $ 0
Compute the total conversion costs. Factory overhead Total factory overhead 0 Total conversion costs $ 0
Mountaineer Co. Income Statement For Year Ended December 31 Cost of goods sold: Cost of goods available for sale Cost of goods sold Operating expenses: Total operating expenses Net income