Question
The Bakery has the following financial information for the fiscal year ending 2022: Sales $25,000 Selling and administrative expenses $13,500 Direct materials, (used in production)
The Bakery has the following financial information for the fiscal year ending 2022:
Sales | $25,000 |
Selling and administrative expenses | $13,500 |
Direct materials, (used in production) | $4,000 |
Direct labor, (used in production) | $8,600 |
Manufacturing overhead (used in production) | $1,750 |
Beginning work in process (BWIP) inventory | $400 |
Ending work in process (EWIP) inventory | $650 |
1. How do I get the conversion costs for 2022?
2. How do I get the prime costs for 2022?
3. If a company wanted to focus on the category of costs they can most control, how would I know if I should recommend that they focus on controlling conversion costs or prime costs?
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The Internet Supply Chain Impact On Accounting And Logistics
Authors: D. Chorafas
5th Edition
0333949633, 9780333949634
