Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 3,750 cameras with the following costs: Direct materials $1,000,000 Direct labor 104,000 Manufacturing overhead 768,000 There were no beginning or ending inventories of WIP. Required: If required, round your answers to the nearest cent. 1. What was the total prime cost in January? $fill in the blank 1 2. What was the prime cost per unit in January? $fill in the blank 2per unit 3. What was the total conversion cost in January? $fill in the blank 3 4. What was the conversion cost per unit in January? $fill in the blank 4per unit
Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 3,750 cameras with the following costs: Direct materials $1,000,000 Direct labor 104,000 Manufacturing overhead 768,000 There were no beginning or ending inventories of WIP. Required: If required, round your answers to the nearest cent. 1. What was the total prime cost in January? $fill in the blank 1 2. What was the prime cost per unit in January? $fill in the blank 2per unit 3. What was the total conversion cost in January? $fill in the blank 3 4. What was the conversion cost per unit in January? $fill in the blank 4per unit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Prime Cost and Conversion Cost
Grin Company manufactures digital cameras. In January, Grin produced 3,750 cameras with the following costs:
| Direct materials | $1,000,000 |
| Direct labor | 104,000 |
| Manufacturing |
768,000 |
There were no beginning or ending inventories of WIP.
Required:
If required, round your answers to the nearest cent.
1. What was the total prime cost in January?
$fill in the blank 1
2. What was the prime cost per unit in January?
$fill in the blank 2per unit
3. What was the total conversion cost in January?
$fill in the blank 3
4. What was the conversion cost per unit in January?
$fill in the blank 4per unit
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