Question
Cost Definitions and Calculations For each of the following independent situations, calculate the missing values: 1. The Belen plant purchased $82,100 of direct materials during
Cost Definitions and Calculations
For each of the following independent situations, calculate the missing values:
1. The Belen plant purchased $82,100 of direct materials during June. Beginning direct materials inventory was $3,900, and direct materials used in production were $71,300. What is ending direct materials inventory? $fill in the blank 1
2. Forster Company produced 10,200 units at an average cost of $5.70 each. The beginning inventory of finished goods was $3,078. (The average unit cost was $5.70.) Forster sold 10,320 units. How many units remain in ending finished goods inventory? fill in the blank 2units
3. Beginning work in process (WIP) was $119,400, and ending WIP was $116,500. If total manufacturing costs were $339,500, what was the cost of goods manufactured? $fill in the blank 3
4. If the conversion cost is $111 per unit, the prime cost is $55, and the manufacturing cost per unit is $127, what is the direct materials cost per unit? $fill in the blank 4per unit
5. Total manufacturing costs for August were $402,000. Prime cost was $61,500, and beginning WIP was $75,500. The cost of goods manufactured was $433,000. Calculate the cost of overhead for August and the cost of ending WIP.
Cost of overhead for August | $fill in the blank 5 |
Ending WIP | $fill in the blank 6 |
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