Direct Materials Cost, Prime Cost, Conversion Cost, Cost of Goods ManufacturedEllerson Company provided the following information for the last calendar year:Beginning inventory:Work in processFinished goodsEnding inventory:Direct materialsDirect materialsRequired:Work in processFinished goodsDuring the year, direct materials purchases amounted to $275,000, direct labor cost was $189,000, and overhead cost was $525,000. During the year, 100,000 units were completed.$$67,00029,40043,200$70,4001. Calculate the total cost of direct materials used in production.$ 271,6002. Calculate the cost of goods manufactured.$ 980,000 X50,000Calculate the unit manufacturing cost. Round your answer to the nearest cent.9.8 X per unit$42,1003. Of the unit manufacturing cost calculated in Requirement 2, $2.60 is direct materials and $5.20 is overhead. Round your answers to the nearest cent.FeedbackWhat is the prime cost per unit?$4.6 X per unitCheck My WorkWhat is the conversion cost per unit?7.2 X per unit1. See Cornerstone 2.22. See Cornerstone 2.2

SCHEDULE OF COST OF GOODS MANUFACTUREDSchedule Of Cost Of Goods Manufactured are those costs which…

ect Materials Cost, Prime Cost, Conversion Cost, Cost of Goods Manufactured erson Company provided the following information for the last calendar year: eginning inventory: Direct materials Work in process Finished goods nding inventory: Direct materials Work in process Finished goods uring the year, direct materials purchases amounted to $275,000, direct labor cost was $189,000, and overhead cost was $525,000. During the year, 100,000 units were completed. $67,000 29,400 43,200 $70,400 50,000 42,100 equired: Calculate the total cost of direct materials used in production. 271,600 Calculate the cost of goods manufactured. 980,000 X alculate the unit manufacturing cost. Round your answer to the nearest cent. 9.8 X per unit Of the unit manufacturing cost calculated in Requirement 2, $2.60 is direct materials and $5.20 is overhead. Round your answers to the nearest cent. hat is the prime cost per unit? 4.6 X per unit Feedback That is the conversion cost per unit? 7.2 X per unit Check My Work 1. See Cornerstone 2.2 2. See Cornerstone 2.2

ect Materials Cost, Prime Cost, Conversion Cost, Cost of Goods Manufactured erson Company provided the following information for the last calendar year: eginning inventory: Direct materials Work in process Finished goods nding inventory: Direct materials Work in process Finished goods uring the year, direct materials purchases amounted to $275,000, direct labor cost was $189,000, and overhead cost was $525,000. During the year, 100,000 units were completed. $67,000 29,400 43,200 $70,400 50,000 42,100 equired: Calculate the total cost of direct materials used in production. 271,600 Calculate the cost of goods manufactured. 980,000 X alculate the unit manufacturing cost. Round your answer to the nearest cent. 9.8 X per unit Of the unit manufacturing cost calculated in Requirement 2, $2.60 is direct materials and $5.20 is overhead. Round your answers to the nearest cent. hat is the prime cost per unit? 4.6 X per unit Feedback That is the conversion cost per unit? 7.2 X per unit Check My Work 1. See Cornerstone 2.2 2. See Cornerstone 2.2

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 21E: Ellerson Company provided the following information for the last calendar year: During the year,...

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Wyandotte Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 256,900, direct labor cost was 176,000, and overhead cost was 308,400. 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. 3. Of the unit manufacturing cost calculated in Requirement 2, 6.62 is direct materials and 7.71 is overhead. What is the prime cost per unit? Conversion cost per unit?
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