Cost Definitions

Picante, Inc., provided the following information for the last calendar year:

Beginning inventory:Direct materials$150,500Work in process95,300Ending inventory:Direct materials$145,300Work in process91,400

During the year, direct materials purchases amounted to $184,800, direct labor cost was $149,100, and overhead cost was $228,800. There were 20,000 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, $9.50 is direct materials and $11.44 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

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. $ per unit 3. Of the unit manufacturing cost calculated in Requirement 2,$9.50 is direct materials and $11.44 is overhead. If required, round intermediate calculations and your final answers to the nearest cent. What is the prime cost per unit? $ per unit What is the conversion cost per unit? $ per unit