Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cost Definitions Wyandotte Company provided the following information for the last calendar year: Beginning inventory: Direct materials $30,000 Work in process 50,000 Ending inventory: Direct

image text in transcribed
image text in transcribed
Cost Definitions Wyandotte Company provided the following information for the last calendar year: Beginning inventory: Direct materials $30,000 Work in process 50,000 Ending inventory: Direct materials $16,400 Work in process 23,600 > During the year, direct materials purchases amounted to $254,800, direct labor cost was $166,800, and overhead cost was $300,000. There were 40,000 units produced. Required: 1. Calculate the total cost of direct materials used in production 2. Calculate the cost of goods manufactured Calculate the unit manufacturing cost. If required, round your answer to the nearest cent perunt 3. Of the unit manufacturing cost calculated in Requirement 2, 56.71 is direct materials and $7.50 is overhead. If required, round intermediate calculations and your final answers to the nearest cert What is the prime cost per un per un What is the conversion cost per unit? perunt

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microeconomics Theory And Applications

Authors: Edgar K. Browning, Mark A. Zupan

13th Edition

1119368928, 9781119368922

More Books

Students also viewed these Accounting questions

Question

7. How can the models we use have a detrimental effect on others?

Answered: 1 week ago