Prime Cost and Conversion Cost

Slapshot Company makes ice hockey sticks. Last week, direct materials (wood, paint, Kevlar, and resin) costing $28,000 were put into production. Direct labor of $20,000 (10 workers x 100 hours x $20 per hour) was incurred. Manufacturing overhead equaled $56,000. By the end of the week, the company had manufactured 5,300 hockey sticks.

1. Calculate the total prime cost for last week. $fill in the blank 1

2. Calculate the per-unit prime cost. Round your answer to the nearest cent. $fill in the blank 2per unit

3. Calculate the total conversion cost for last week. $fill in the blank 3

4. Calculate the per-unit conversion cost. Round your answer to the nearest cent. $fill in the blank 4per unit

2. Direct Materials Used in Production

Slapshot Company makes ice hockey sticks. On June 1, Slapshot had $40,000 of materials in inventory. During the month of June, the company purchased $134,000 of materials. On June 30, materials inventory equaled $55,000.

Required:

Calculate the direct materials used in production for the month of June. $fill in the blank 1

3.

Cost of Goods Manufactured

Slapshot Company makes ice hockey sticks. During the month of June, the company purchased $130,000 of materials. Also during the month of June, Slapshot Company incurred direct labor cost of $150,000 and manufacturing overhead of $233,000. Inventory information is as follows:

		June 1	June 30
Materials		$48,000	$45,000
Work in process		65,000	63,000

Required:

1. Calculate the cost of goods manufactured for the month of June. $fill in the blank 1

2. Calculate the cost of one hockey stick assuming that 18,000 sticks were completed during June. Round your answer to the nearest cent. $fill in the blank 2per hockey stick