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Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 8,000 cameras with the following costs: Direct materials $880,000 Direct labor
Prime Cost and Conversion Cost
Grin Company manufactures digital cameras. In January, Grin produced 8,000 cameras with the following costs:
Direct materials | $880,000 |
Direct labor | 128,000 |
Manufacturing overhead | 384,000 |
There were no beginning or ending inventories of WIP.
Required:
1. | What was the total prime cost in January? | |
$fill in the blank 2 |
2. | What was the prime cost per unit in January? Round your answer to the nearest cent. | |
$fill in the blank 3 per unit |
3. | What was the total conversion cost in January? | |
$fill in the blank 4 |
4. | What was the conversion cost per unit in January? Round your answer to the nearest cent. | |
$fill in the blank 5 per unit |
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