Homework Answers
1. The calculation of prime cost includes the total amount spent on direct materials in addition to direct labor.
Prime cost = Direct material cost + Direct labor cost = $ 24,000 + $ 28,000 = $ 52,000
2. Per unit prime cost = Total prime cost / No. of units manufatured = $ 52,000 / 4400 = $ 11.82
3. Conversion costs include direct labor and overhead expenses incurred due to the transformation of raw materials into finished products.
Convesrion cost = Direct labor + Manufacturing overhead = $ 28,000 + $ 52,000 = $ 80,000
4. Per unit conversion cost = Total conversion cost / No. of units manufactured = $ 80,000 / 4400 = $ 18.18
Add Answer to:
Prime Cost and Conversion Cost Slapshot Company makes ice hockey sticks. Last week, direct materials (wood,...
Cost of Goods Manufactured Slapshot Company makes ice hockey sticks. During the month of June, the...
Cost of Goods Manufactured Slapshot Company makes ice hockey sticks. During the month of June, the company purchased $123,000 of materials. Also during the month of June, Slapshot Company incurred direct labor cost of $161,000 and manufacturing overhead of $212,000. Inventory information is as follows: June 1 June 30 Materials $48,000 $45,000 Work in process 65,000 63,000 Required: 1. Calculate the cost of goods manufactured for the month of June. $ 2. Calculate the cost of one hockey stick assuming...
Cost of Goods Manufactured Slapshot Company makes ice hockey sticks. During the month of June, the...
Cost of Goods Manufactured Slapshot Company makes ice hockey sticks. During the month of June, the company purchased $120,000 of materials. Also during the month of June, Slapshot Company incurred direct labor cost of $173,000 and manufacturing overhead of $224,000. Inventory information is as follows: June 1 June 30 Materials $48,000 $45,000 Work in process 65,000 63,000 Required: 1. Calculate the cost of goods manufactured for the month of June. $ 2. Calculate the cost of one hockey stick assuming...
H UULURULUI Cost of Goods Sold Slapshot Company makes ice hockey sticks. During the month of...
H UULURULUI Cost of Goods Sold Slapshot Company makes ice hockey sticks. During the month of June, 1,900 sticks were completed at a cost of goods manufactured of $525,000. Suppose that on June 1, Slapshot had 650 units in finished goods inventory costing $160,000 and on June 30, 930 units in finished goods inventory costing $215,000. 1. Prepare a cost of goods sold statement for the month of June. Slapshot Company Cost of Goods Sold Statement For the Month of...
Instructions Slapshot Company makes ice hockey sticks and sold 1,810 sticks during the month of June...
Instructions Slapshot Company makes ice hockey sticks and sold 1,810 sticks during the month of June at a total cost of $380,100. Each stick sold at a price of $380. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales price and other selling expense of $64,400. Administrative expense totaled $52,800 Required: Prepare an income statement for Slapshot for the month of June and calculate the percentage of sales revenue represented by each line of...
Slapshot Company makes ice hockey sticks and sold 1,880 sticks during the month of June at...
Slapshot Company makes ice hockey sticks and sold 1,880 sticks during the month of June at a total cost of $433,000. Each stick sold at a price of $400. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales priceand other selling expense of $65,000. Administrative expense totaled $53,800. Required: Prepare an income statement for Slapshot for the month of June and calculate the percentage of sales revenue represented by each line of the income...
Slapshot Company makes ice hockey sticks and sold 1,700 sticks during the month of June at...
Slapshot Company makes ice hockey sticks and sold 1,700 sticks during the month of June at a total cost of S408,000. Each stick sold at a price of S400. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales price and other selling expense of S83,100. Administrative expense totaled $$3,800. Required: Prepare an income statement for Slapshot for the month of June. Labels and Amount Descriptions Refer to the list below for the exact wording...
price of 3400 Slapshot Company makes ice hockey sicks and sold 1.20 sticks during the month...
price of 3400 Slapshot Company makes ice hockey sicks and sold 1.20 sticks during the month of June at a total cost of 436.800 Each ick sold other sing expense of $04.200. Administrative expense stated $52.200 incurred two types of selling costs commissions equal to 10% of the sales price and Resuired Prepare an income statement for Slapshot for the more Slapshot Company makes ice hockey sticks and sold 1.820 sticks during the month of June a other selling expense...
Direct Materials Cost, Prine Cost, Conversion Cost, Cost of Goods Marufactured Eilerson Company provided the folowing...
Direct Materials Cost, Prine Cost, Conversion Cost, Cost of Goods Marufactured Eilerson Company provided the folowing information for the last calendar year Beginning inventory Direct materials $67,000 Work in process 29,400 Finished goods 43,200 Ending inventory: Direct materials $70,400 Work in proces 40,000 Finished goods 42,100 During the year, direct materials purchases amounted to $275,000, drect labor cost was $189,000, and overhead cost was $525,000. During the year 100,000 units were completed Required 1. Calculate the total cost of direct...
Calculator Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 4,250...
Calculator Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 4,250 cameras with the following costs: Direct materials $1,000,000 104,000 Direct labor Manufacturing overhead 672,000 There were no beginning or ending inventories of WIP. Required: If required, round your answers to the nearest cent. 1. What was the total prime cost in January? $ 1,104,000 2. What was the prime cost per unit in January? $ 269.76 per unit 3. What was the total conversion...
Prime Cost and Conversion Cost Benton Engineering Services Company incurred the following during 2016 Direct labor...
Prime Cost and Conversion Cost Benton Engineering Services Company incurred the following during 2016 Direct labor $23,500 Overhead 31,500 Selling expenses 28,000 Administrative expenses 25,500 Calculate prime cost and conversion cost for Benton Engineering Services Company during 2016. Prime cost: Answer Conversion cost: Answer
H UULURULUI Cost of Goods Sold Slapshot Company makes ice hockey sticks. During the month of June, 1,900 sticks were completed at a cost of goods manufactured of $525,000. Suppose that on June 1, Slapshot had 650 units in finished goods inventory costing $160,000 and on June 30, 930 units in finished goods inventory costing $215,000. 1. Prepare a cost of goods sold statement for the month of June. Slapshot Company Cost of Goods Sold Statement For the Month of...
Instructions Slapshot Company makes ice hockey sticks and sold 1,810 sticks during the month of June at a total cost of $380,100. Each stick sold at a price of $380. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales price and other selling expense of $64,400. Administrative expense totaled $52,800 Required: Prepare an income statement for Slapshot for the month of June and calculate the percentage of sales revenue represented by each line of...
Slapshot Company makes ice hockey sticks and sold 1,880 sticks during the month of June at a total cost of $433,000. Each stick sold at a price of $400. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales priceand other selling expense of $65,000. Administrative expense totaled $53,800. Required: Prepare an income statement for Slapshot for the month of June and calculate the percentage of sales revenue represented by each line of the income...
Slapshot Company makes ice hockey sticks and sold 1,700 sticks during the month of June at a total cost of S408,000. Each stick sold at a price of S400. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales price and other selling expense of S83,100. Administrative expense totaled $$3,800. Required: Prepare an income statement for Slapshot for the month of June. Labels and Amount Descriptions Refer to the list below for the exact wording...
price of 3400 Slapshot Company makes ice hockey sicks and sold 1.20 sticks during the month of June at a total cost of 436.800 Each ick sold other sing expense of $04.200. Administrative expense stated $52.200 incurred two types of selling costs commissions equal to 10% of the sales price and Resuired Prepare an income statement for Slapshot for the more Slapshot Company makes ice hockey sticks and sold 1.820 sticks during the month of June a other selling expense...
Direct Materials Cost, Prine Cost, Conversion Cost, Cost of Goods Marufactured Eilerson Company provided the folowing information for the last calendar year Beginning inventory Direct materials $67,000 Work in process 29,400 Finished goods 43,200 Ending inventory: Direct materials $70,400 Work in proces 40,000 Finished goods 42,100 During the year, direct materials purchases amounted to $275,000, drect labor cost was $189,000, and overhead cost was $525,000. During the year 100,000 units were completed Required 1. Calculate the total cost of direct...
Calculator Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 4,250 cameras with the following costs: Direct materials $1,000,000 104,000 Direct labor Manufacturing overhead 672,000 There were no beginning or ending inventories of WIP. Required: If required, round your answers to the nearest cent. 1. What was the total prime cost in January? $ 1,104,000 2. What was the prime cost per unit in January? $ 269.76 per unit 3. What was the total conversion...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 10 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 10 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 10 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 10 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 10 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 10 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 10 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 10 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 10 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 10 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 10 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 10 months ago