Wyandotte Company provided the following information for the last calendar year: Beginning inventory: Direct materials $28,000...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Wyandotte Company provided the following information for the last calendar year: Beginning inventory: Direct materials $28,000 Work in process 41,200 Ending inventory: Direct materials Work in process $21,200 20,000 During the year, direct materials purchases amounted to $254,800, direct labor cost was $166,400, and overhead cost was $306,000. There were 40,000 units produced. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. $ Calculate the unit manufacturing cost. If required, round your answer to the nearest cent. 3. Of the unit manufacturing cost calculated in Requirement 2, $6.54 is direct materials and $7.65 is overhead. If required, round intermediate calculations and your final answers to the nearest cent. per unit What is the prime cost per unit? $ $ per unit What is the conversion cost per unit? per unit Wyandotte Company provided the following information for the last calendar year: Beginning inventory: Direct materials $28,000 Work in process 41,200 Ending inventory: Direct materials Work in process $21,200 20,000 During the year, direct materials purchases amounted to $254,800, direct labor cost was $166,400, and overhead cost was $306,000. There were 40,000 units produced. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. $ Calculate the unit manufacturing cost. If required, round your answer to the nearest cent. 3. Of the unit manufacturing cost calculated in Requirement 2, $6.54 is direct materials and $7.65 is overhead. If required, round intermediate calculations and your final answers to the nearest cent. per unit What is the prime cost per unit? $ $ per unit What is the conversion cost per unit? per unit
Expert Answer:
Answer rating: 100% (QA)
1 Calculate the total cost of direct materials used in production Total Cost of Direct Materials Use... View the full answer
Related Book For
Cornerstones of Cost Management
ISBN: 978-1285751788
3rd edition
Authors: Don R. Hansen, Maryanne M. Mowen
Posted Date:
Students also viewed these accounting questions
-
Wyandotte Company provided the following information for the last calendar year: Beginning inventory: Direct materials ..... $25,900 Work in process ..... 44,700 Ending inventory : Direct materials...
-
Ellerson Company provided the following information for the last calendar year: Beginning inventory: Direct materials ...... $68,000 Work in process ...... 29,400 Finished goods ...... 43,200 Ending...
-
1) The Spangle Company uses the process cost system and average costing. The following prediction data are for the month of July: Production Costs Work in process, beginning of month Materials $2,500...
-
Explain whether each of the following events represents (i) a shi of the supply curve or (ii) a movement along the supply curve. a. More homeowners put their houses up for sale during a real estate...
-
On March 1, 2018, Stratford Lighting issued 14% bonds, dated March 1, with a face amount of $300,000. The bonds sold for $294,000 and mature on February 28, 2038 (20 years). Interest is paid...
-
Time Warner is trying to decide whether to license foreign companies to produce its films and records or to set up foreign sales affiliates to sell its products directly. What factors might determine...
-
Explain the difference between cash-basis and accrual-basis accounting. - Cash-basis and accrual-basis accounting are two alternatives for recording business activities in the accounting records....
-
Hana Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the Roasting Department, coffee beans are then transferred to the...
-
This question has several parts that must be completed sequentially. If you skip a part of the question, you will not receive any points for the skipped part, and you will not be able to come back to...
-
The COVID-19 pandemic affected companies in the food industry in unique ways, particularly during 2020. Ruth's Hospitality Group (Ticker: RUTH) develops and operates fine dining restaurants under the...
-
Finish the statement of revenues, expenses, and changes in net position for the fiscal year and balance sheet based on journal enteries.
-
Gregg Office Equipment Co. has a fleet of automobiles and trucks for use by salespersons and for delivery of office supplies and equipment. Bridger Auto Sales Co. has automobiles and trucks for sale....
-
How should (a) fixed assets and (b) intangible assets be reported in the balance sheet?
-
_____ is corrective action to get employees to meet standards and the code of conduct.
-
The financial statements of La-Z-Boy Chair Company contain the following footnote: The Company has several long-term leases covering manufacturing facilities. The lease agreements require the Company...
-
_____ is the process of transmitting information and meaning.
-
(a) Piconsonant including y)= (Type an integer or a fraction.) (b) P(ahead of the letter t)= (Type an integer or a fraction.) (a) If a letter is chosen at random from the English alphabet, find the...
-
Accounting policies and practices that are most important to the portrayal of the companys financial condition and results, and require managements most difficult, subjective, or complex judgments...
-
Fordman Company has a product that passes through two processes: Grinding and Polishing. During December, the Grinding Department transferred 20,000 units to the Polishing Department. The cost of the...
-
Ripley, Inc., costs products using a normal costing system. The following data are available for last year: Budgeted: Overhead ........ $285,600 Machine hours ........ 84,000 Direct labor hours ........
-
Javier Company has sales of $8 million and quality costs of $1,600,000. The company is embarking on a major quality improvement program. During the next three years, Javier intends to attack failure...
-
The amount that will be accumulated in the future when a series of payments is invested and accrues interest until the future time. True/false
-
The amount that will be accumulated in the future when one amount is invested at the present time and accrues interest until the future time. True/false
-
Credit Terms You receive an invoice from a supplier for $5,000 on January 1 with terms 3/15, net 30. If you pay between January 1 and January 16, how much must you pay? If you pay after January 16,...
Study smarter with the SolutionInn App