Question
Beginning inventory: Direct materials $31,600 Work in process 46,000 Ending inventory: Direct materials $19,600 Work in process 22,800 During the year, direct materials purchases amounted
Beginning inventory: | ||
Direct materials | $31,600 | |
Work in process | 46,000 | |
Ending inventory: | ||
Direct materials | $19,600 | |
Work in process | 22,800 |
During the year, direct materials purchases amounted to $257,600, direct labor cost was $169,600, and overhead cost was $313,600. There were 40,000 units produced.
Required:
1. Calculate the total cost of direct materials used in production.
$fill in the blank 1
2. Calculate the cost of goods manufactured.
$fill in the blank 2
Calculate the unit manufacturing cost. If required, round your answer to the nearest cent.
$fill in the blank 3 per unit
3. Of the unit manufacturing cost calculated in Requirement 2, $6.74 is direct materials and $7.84 is overhead. If required, round intermediate calculations and your final answers to the nearest cent.
What is the prime cost per unit?
$fill in the blank 4 per unit
What is the conversion cost per unit?
$fill in the blank 5 per unit
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