Question
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
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