Help In Lopez Company, total material costs are $35,900, and total conversion costs are $56,400.Equivalent units of production are materials $10,000 and conversion costs $12,000.Compute the unit costs for materials, conversion costs, and total manufacturing costs.(Round answers to 2 decimal places, e.g. 2.25.)

Step 1: Definition of Unit CostsUnit costs are calculated to determine the cost incurred per unit…

Answered: In Lopez Company, total material costs…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PA: The following product Costs are available for Haworth Company on the production of chairs: direct...

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The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?
Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. 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, 2.70 is direct materials and 5.30 is overhead. What is the prime cost per unit? Conversion cost per unit?
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In Mordica Company, total materials costs are $ 33,000, and total conversion costs are $ 54,000. Equivalent units of production are materials 10,000 and conversion costs 12,000. Compute the unit costs for materials and conversion costs. (Round answers to 2 decimal places, e.g. 2.25.) Materials cost per unit $ enter a dollar amount rounded to 2 decimal places Conversion cost per unit $ enter a dollar amount rounded to 2 decimal places Compute total manufacturing costs. (Round answer to 2 decimal places, e.g. 2.25.) Total manufacturing cost per unit $ enter the Total manufacturing cost per unit in dollars rounded to 2 decimal places
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In Mica Company, total material costs are $43,500, and total conversion costs are $56,300. Equivalent units of production are materials 14,650 and conversion costs 19,150. Compute the unit costs for materials and conversion costs.
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In Sheridan Company, total materials costs are $37,600, and total conversion costs are $61,560 for June. Equivalent units of production are materials 10,000 and conversion costs 12,000. (a1) Your answer is correct. Compute the unit costs for materials and conversion costs. (Round answers to 2 decimal places, e.g. 2.25.) Materials cost per unit Conversion cost per unit eTextbook and Media (a2) $ tA LA 3.76 Total manufacturing cost per unit $ 5.13 Compute the unit cost for total manufacturing costs. (Round answer to 2 decimal places, e.g. 2.25.) Attempts: 1 of 4 used

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