Expert Manufacturing reported the following: ...

[APUS57]

Question 1

Conversion costs include ________.
◦ direct materials and direct manufacturing labor costs
◦ direct manufacturing labor and manufacturing overhead costs
◦ direct materials and manufacturing overhead costs
◦ only direct materials

Question 2

Expert Manufacturing reported the following: 

Revenue	$460,000
Beginning inventory of direct materials, January 1, 2015	30,000
Purchases of direct materials	15,800
Ending inventory of direct materials, December 31, 2015	16,000
Direct manufacturing labor	26,000
Indirect manufacturing costs	42,000
Beginning inventory of finished goods, January 1, 2015	45,000
Cost of goods manufactured	97,800
Ending inventory of finished goods, December 31, 2015	41,000
Operating costs	158,000

What is Expert's operating income?
◦ $346,400
◦ $218,200
◦ $204,200
◦ $200,200

[AngeliqueG]

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[APUS57]

Thanks for the timely response, appreciate it

[samiel-sayed]

Great answer, keep it coming