Need your advice in this general accounting problem Question: 1.5Acompany's prime costs total $5,300,000 and itsconversion costs total $9,300,000. If direct materialsare $2,150,000 and factory overhead is $6,150,000, thendirect labor is:a. $4,000,000.b. $18,600,000.c. $3,150,000.d. $1,000,000.e. $5,300,000.

Explanation of Prime Costs: Prime costs represent the sum of direct materials and direct labor costs…

Answered: Question: 1.5 A company's prime costs…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

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Problem 5PB: Wrappers Tape makes two products: Simple and Removable. It estimates it will produce 369,991 units...

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No. 1 The following is relevant for a production process for Period 1: Direct material cost $10,000 Direct labour cost $5,000 Overheads $3,000 Total costs $18,000 The process produces joint products A and B, which are then sold at the prices given below. The output figure represents all of the output from the process: Product A Product B Units of output 2,000 8,000 Price per unit $5 $2.50 Required: Calculate the cost of sales, and gross profit for products A and B assuming: (i) joint costs are apportioned by market value (ii) joint costs are apportioned by production units.
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Q.5) Compute: i) Prime Cost ii) Factory CostMaterial = Rs. 75,000 ( 80% Direct )Labour = 100,000 ( 20 % Indirect )Conversion Cost = 180,000 (Indirect Material and Labour are included) Q.7) Compute: i) Direct Labour ii) Conversion Cost Factory Cost = Rs. 500,000Prime Cost = three-fifth of the Factory Cost.Direct Material = one-fifth of the Factory Cost.
A Cothing Manufacturing Company provides the following unit costs associated with one of its products: Direct materials. Direct manufacturing labor Variable manufacturing overhead Fixed manufacturing overhead Operating costs Total $160 50 55 32 30 $327 What are the period costs per unit associated with the Product? O A $30 O B. $33 OC. $100 O D. $17
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B. Find the cost of a product Different costs are presented below Direct materials $ 5.00 per unit Indirect materials $ 2.00 per unit Direct labor $ 10.00 per hour Indirect labor $ 3.00 per hour Other variable indirect costs $ 6.00 per hour Other fixed indirect costs $ 10.00 per unit Commissions to sellers $ 4.00 per unit Variable administrative costs $ 6.00 per unit Fixed Administrative Costs $ 10.00 per unit 2. Determine the Sales Price if the company expects to earn 140% on cost (Markup of 140 on cost). .
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Q.5) The estimated costs of producing 6,000 units of a component are: Total Per Unit Direct Material Direct Labor Applied Variable Factory Overhead Applied Fixed Factory Overhead ($1.5 per direct labor dollar) $10 $60,000 48,000 54,000 72,000 9. 12 $39 $234,000 The same component can be purchased from market at a price of $29 per unit. If the component is purchased from market, 25% of the fixed factory overhead will be saved. Required: Decide whether to make this product or buy this product from the market. Show computations.
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Question: 1.5 A company's prime costs total $5,300,000 and its conversion costs total $9,300,000. If direct materials are $2,150,000 and factory overhead is $6,150,000, then direct labor is: a. $4,000,000. b. $18,600,000. c. $3,150,000. d. $1,000,000. e. $5,300,000.