Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cost Definitions Wyandotte Company provided the following information for the last calendar year: Beginning inventory: Direct materials $30,000 Work in process 44,400 Ending inventory: Direct

Cost Definitions

Wyandotte Company provided the following information for the last calendar year:

Beginning inventory:
Direct materials $30,000
Work in process 44,400
Ending inventory:
Direct materials $16,400
Work in process 25,200

During the year, direct materials purchases amounted to $257,200, direct labor cost was $187,200, and overhead cost was $310,800. 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.

$

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, $6.77 is direct materials and $7.77 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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting An Essential Guide To Learning Accounting Quickly

Authors: Greg Shields

1st Edition

1978341873, 978-1978341876

More Books

Students also viewed these Accounting questions

Question

Describe alternative training and development delivery systems.

Answered: 1 week ago

Question

Summarize the learning organization idea as a strategic mind-set.

Answered: 1 week ago