Answered: Prime cost and conversion cost share…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Concept explainers

Question

Prime cost and conversion cost share what common element of total cost?

Select one:

a. Direct labor.

b. Fixed overhead.

c. Variable overhead.

d. Direct materials.

Zapora Bhd manufactured smart watches. In November 2021, Zapora produced 2,200 watches with the following costs:

Direct Materials RM32,000

Direct Labour RM13,000

Manufacturing Overheads RM27,000

Additional information: There is no opening or closing stock of work-in-progress (WIP) during the month of November.

Calculate Cost per Unit for the watches produced in November 2021.

Select one:

a. RM32.73

b. RM18.18

c. RM14.55

d. RM20.45

Question 23

Question text

Joba Company uses differential piece rate to motivate its employees. 75% of piece rate below standard and 110% of piece rate at above standard. Worker A produces 150 units per day and worker B produces 180 units per day. Normal rate per hour is $2.20 and standard time per unit is 3 minutes. Assuming standard working hour is 8 hours per day, calculate the standard production per day.

Select one:

a. 144 units per day

b. 480 units per day

c. 160 units per day

d. 150 units per day

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions