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Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 4,000 cameras with the following costs: Direct materials Direct labor $400,000 80,000 320,000 Manufacturing overhead There were no beginning or ending inventories of WIP. Required: If required, round your answers to the nearest cent. What was the total prime cost in January? 800,000 X What was the prime cost per unit in January? 200 X per unit What was the total conversion cost in January? 200 x What was the conversion cost per unit in January? 800,000 X per unit

Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 4,000 cameras with the following costs: Direct materials Direct labor $400,000 80,000 320,000 Manufacturing overhead There were no beginning or ending inventories of WIP. Required: If required, round your answers to the nearest cent. What was the total prime cost in January? 800,000 X What was the prime cost per unit in January? 200 X per unit What was the total conversion cost in January? 200 x What was the conversion cost per unit in January? 800,000 X per unit

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 4,000 cameras with the following costs: Direct materials Direct labor Manufacturing overhead There were no beginning or ending inventories of WIP. $400,000 80,000 320,000 Required: If required, round your answers to the nearest cent. What was the total prime cost in January? 800,000 X What was the prime cost per unit in January? 200 X per unit What was the total conversion cost in January? 200 X What was the conversion cost per unit in January? 800,000 X per unit
Transcribed Image Text:Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 4,000 cameras with the following costs: Direct materials Direct labor Manufacturing overhead There were no beginning or ending inventories of WIP. $400,000 80,000 320,000 Required: If required, round your answers to the nearest cent. What was the total prime cost in January? 800,000 X What was the prime cost per unit in January? 200 X per unit What was the total conversion cost in January? 200 X What was the conversion cost per unit in January? 800,000 X per unit
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