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

Step 1: FormulasUnit Cost for Materials: Unit Cost (Materials)=Equivalent Units for…

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?
The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?
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In Mordica Company, total material costs are $34,500, and total conversion costs are $54,500. Equivalent units of production are materials 10,000 and conversion costs 12,000. a. Compute the unit costs for materials and conversion costs. b. Compute total manufacturing costs.
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Cost Account Questions.
In Barber Company, total material costs are $10,000 and total conversion costs are $20,000. Equivalent units of production are materials 1,000 and conversion costs 2,500. Unit costs for conversion costs is: a. $1. b. $8. c. $10. d. $18.

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