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Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 5,500 cameras with the following costs: Direct materials $680,000 Direct labor
Prime Cost and Conversion Cost
Grin Company manufactures digital cameras. In January, Grin produced 5,500 cameras with the following costs:
Direct materials | $680,000 |
Direct labor | 136,000 |
Manufacturing overhead | 448,000 |
There were no beginning or ending inventories of WIP.
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.
Open spreadsheet
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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