direct materials costing $1,500,000 were put into production. Direct labor of $500,000 was incurred, and overhead equaled $1,000,000. Selling and administrative expenses totaled $100,000 for the month and the company manufactured 20,000 rubber rafts. Assume there was no beginning inventory and that 2,800 rubber rafts were sold. Required: A. Compute the per-unit product cost. B. Compute the per-unit prime cost. C. Compute the per-unit conversion cost. $ D. What is the cost of goods sold for the month? E. What is the cost of ending finished goods for the month?

direct materials costing $1,500,000 were put into production. Direct labor of $500,000 was incurred, and overhead equaled $1,000,000. Selling and administrative expenses totaled $100,000 for the month and the company manufactured 20,000 rubber rafts. Assume there was no beginning inventory and that 2,800 rubber rafts were sold. Required: A. Compute the per-unit product cost. B. Compute the per-unit prime cost. C. Compute the per-unit conversion cost. $ D. What is the cost of goods sold for the month? E. What is the cost of ending finished goods for the month?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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