Homework Answers
Schedule of prime cost
| Raw material | |
| Beginning material | 16000 |
| Material purchase | 114000 |
| Material available for use | 13000 |
| Ending material | -26000 |
| Material used | 104000 |
| Conversion cost | 240000 |
| Total prime cost | 344000 |
Cost of goods manufactured = 344000+105000-101000 = 348000
Total manufacturing cost =348000+36000-40000 = 344000
Schedule of conversion cost
| Direct labor (240000/1.50) | 160000 |
| Overhead (160000*50%) | 80000 |
| Total conversion cost | 240000 |
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Indirect labor
109,000
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133,000
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