Omega Industries has total material costs of $50,800 and total conversioncosts of $74,600. The equivalent units of production are materials: 14,500units and conversion costs: 15,500 units.Compute the unit costs for materials, conversion costs, and totalmanufacturing costs. (Round answers to 2 decimal places.)

Step 1: Definition of Unit CostsUnit cost refers to the cost incurred to produce, process, or…

Answered: Omega Industries has total material…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PB: The following product costs are available for Stellis Company on the production of erasers: direct...

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The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?
The cost of direct materials transferred into the Rolling Department of Kraus Company is 3,000,000. The conversion cost for the period in the Rolling Department is 462,600. The total equivalent units for direct materials and conversion are 4,000 tons and 3,855 tons, respectively. Determine the direct materials and conversion costs per equivalent unit.
A production department within a company received materials of $7,000 and conversion costs of $5,000 from the prior department. It added material of $78400 and conversion costs of $47000. The equivalent units are 5,000 for material and 4,000 for conversion. What is the unit cost for materials and conversion?
Rocks Industries has two products. They manufactured 12,539 units of product A and 8.254 units of product B. The data are: Â What is the activity rate for each cost pool?
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.)
In Mordica Company, total materials costs are $36,500, and total conversion costs are $53,520. 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 eTextbook and Media Compute total manufacturing costs. (Round answer to 2 decimal places, e.g. 2.25.) Total manufacturing cost per unit $enter a dollar amount of total manufacturing cost per unit rounded to 2 decimal places
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Cher Industries has total material costs of $56,200, and total conversion costs are $74,600. The equivalent units of production are materials 18,250 and conversion costs 22,150. Compute the unit costs for materials and conversion costs.
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