Reference no: EM13901171
DIRECT MATERIALS COST, PRIME COST, CONVERSION COST, COST OF GOODS MANUFACTURED
Tremblay Company provided the following information for the past calendar year:
|
Beginning Inventory
|
|
|
Direct Materials
|
$ 59,000
|
|
Work in Process
|
13,000
|
|
Finished goods
|
34,000
|
|
Ending
|
|
|
Direct Labor
|
27,500
|
|
Work in Process
|
14,500
|
|
Finished goods
|
70,100
|
During the year, direct materials purchases amounted to $125,000, direct labour cost was $320,000, and overhead cost was $490,000. During the year, 50,000 units were completed.
Required:
1. Calculate the total cost of direct materials used in production.
2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost.
3. Of the unit manufacturing cost calculated in Requirement 2, $3.20 is direct materials and $9.80 is overhead. What is the prime cost per unit? Conversion cost per unit?
|
Draw a graph that shows the progress of the race
: Tortoise leaves the starting line, "sprints" at the rate of 4 meters per minute, and runs a steady race. Hare leaves the starting line running at a rate of 20 meters per minute and runs steadily for 2 minutes. Draw a graph that shows the progress ..
|
|
Prepare the journal entries for eagle
: Use the information in Exercise 14-14 to prepare the journal entries for Eagle to record the loan on January 1, 2013, and the four payments from December 31, 2013, through December 31, 2016.
|
|
Prepare a cost of goods sold statement for skilz-accountants
: Using the above information, prepare a cost of goods manufactured statement. Using the above information, prepare a cost of goods sold statement.
|
|
Prepare a cost of goods sold statement for last year
: Prepare a cost of goods sold statement for last year. Prepare an income statement for last year. Show the percentage of sales that each line item represents.
|
|
What is the prime cost per unit and conversion cost per unit
: Of the unit manufacturing cost calculated in Requirement 2, $3.20 is direct materials and $9.80 is overhead. What is the prime cost per unit? Conversion cost per unit?
|
|
Which costs in the value chain would be considered
: Which costs in the value chain would be considered by each of the following managers in their decision regarding Glaxane?
|
|
A manufacturer of potato chips
: A manufacturer of potato chips would like to know whether its bag filling machine works properly at the 409 gram setting. It is believed the machine is underfilling the bags. A 35 gram bag sample had a mean of 404 grams. A level of significance of 0...
|
|
What is the probability that the sample mean
: 1. Suppose we want to estimate the mean BMI for women in pregnancy at 20 weeks gestation. If we have a sample of 100 women and measure their BMI at 20 weeks gestation, what is the probability that the sample mean is within 1 unit of the true BMI if t..
|
|
Gasoline prices have been falling for about twelve months
: Gasoline prices have been falling for about twelve months. Because of this, the state transportation department wants to determine whether or not the mileage driven by motorists has increased from the historical average of 250 miles per week. A sam..
|