Grin Company manufactures digital cameras. In January, Grin produced 4,000 cameras with the following costs:

Direct materials $400,000 Direct labor 80,000 Manufacturing overhead 320,000 There were no beginning or ending inventories of WIP.

Required:

If required, round your answers to the nearest cent.

1.What was the total prime cost in January?

$

2.What was the prime cost per unit in January?

$per unit

3.What was the total conversion cost in January?

$

4.What was the conversion cost per unit in January?

$per unit

5. PR.02.53

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Cost of Direct Materials, Cost of Goods Manufactured, Cost of Goods Sold

Bisby Company manufactures fishing rods. At the beginning of July, the following information was supplied by its accountant:

Raw materials inventory $40,000 Work-in-process inventory 21,000 Finished goods inventory 23,200 During July, the direct labor cost was $43,500, raw materials purchases were $64,000, and the total overhead cost was $108,750. The inventories at the end of July were:

Raw materials inventory $19,800 Work-in-process inventory 32,500 Finished goods inventory 22,100 Required:

1.What is the cost of the direct materials used in production during July?

$

2.What is the cost of goods manufactured for July?

$

3.What is the cost of goods sold for July?