The following data apply to the provision of psychological testing services: $ 330 16,000 15,000 Sales price per unit (1 unit = 1 test plus feedback to client) Fixed costs (per month): Selling and administration Production overhead (e.g., rent of testing facilities) Variable costs (per test): Labor for oversight and feedback Outsourced test analysis Materials used in testing Production overhead Selling and administration (e.g., scheduling and billing) Number of tests per month 155 21 4 9 20 2,000 tests Required: Calculate the amount for each of the following (one unit = one test) if the number of tests is 2,000 per month. Also calculate if the number of tests decreases to 1,250 per month. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.) 2,000 Tests 1,250 Tests a. b. c. d. Variable production cost per unit. Variable cost per unit. Full cost per unit. Full absorption cost per unit. Prime cost per unit. Conversion cost per unit. Contribution margin per unit. Gross margin per unit. f. h The following information comes from the accounting records for Chelsea, Inc., for May. Direct materials inventory, May 1 Direct materials inventory, May 31 Work-in-process inventory, May 1 Work-in-process inventory, May 31 Finished goods inventory, May 1 Finished goods inventory, May 31 Direct materials purchased during May Direct labor costs, May Manufacturing overhead, May $ 18, 200 15,300 8,500 6,500 55,000 71,100 84,100 59,300 80,800 Required: a. Compute the total prime costs for the month of May. b. Compute the total conversion costs for the month of May. c. Compute the total manufacturing costs for the month of May. d. Compute the cost of goods manufactured for the month of May. e. Compute the cost of goods sold for the month of May. a. b. c. Total prime costs Total conversion costs Total manufacturing costs Cost of goods manufactured Cost of goods sold d. e