Given the following information: Prime Costs $ 11000 Conversion Costs $ 30000 Direct Materials Purchased $ 51000 Direct Materials Used $ 11000 Change in finished goods inventory $ 30000 increase Change in WIP $ 25000 decrease Calculate the total manufacturing costs.

Given the following information: Prime Costs $ 11000 Conversion Costs $ 30000 Direct Materials Purchased $ 51000 Direct Materials Used $ 11000 Change in finished goods inventory $ 30000 increase Change in WIP $ 25000 decrease Calculate the total manufacturing costs.

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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Question

Given the following information:

Prime Costs $ 11000

Conversion Costs $ 30000

Direct Materials Purchased $ 51000

Direct Materials Used $ 11000

Change in finished goods inventory $ 30000

increase Change in WIP $ 25000 decrease

Calculate the total manufacturing costs.

Definition Definition Total cost of procuring or producing a product or the cost that an individual or business owner undertakes for the manufacturing of goods.

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