What is the cost of goods manufactured ifbeginning work in process was $30,000,ending work in process was $30,000,• raw materials used were $60,000,• direct labor was $50,000, and• manufacturing overhead was $20,000?a) $130,000b) $160,000c) $110,000d) $190,000

To compute the Cost of Goods Manufactured: Raw materials used$ 60,000Direct labor…

Answered: What is the cost of goods manufactured…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 8MC: What is the conversion cost to manufacture insulated travel cups if the costs are: direct materials,...

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A production department within a company received materials of $10,000 and conversion costs of $10,000 from the prior department. It added material of $27,200 and conversion costs of $53,000. The equivalent units are 20,000 for material and 18,000 for conversion. What is the unit cost for materials and conversion?
A firm has 100,000 in direct materials costs, 50,000 in direct labor costs, and 80,000 in overhead. Which of the following is true? a. Prime costs are 150,000; conversion costs are 180,000. b. Prime costs are 130,000; conversion costs are 150,000. c. Prime costs are 150,000; conversion costs are 130,000. d. Prime costs are 180,000; conversion costs are 150,000.
The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?
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?
What is the cost of direct labor f the conversion costs are $330.000 and manufacturing overhead is $275,000? $55,000 $275,000 $330,000 $605,000
Identify cost graphs The following cost graphs illustrate various types of cost behavior: For each of the following costs, identify the cost graph that best illustrates its cost behavior as the number of units produced increases. a. Direct material cost per unit. b. Fees for using a patent of $500,000 plus $0.25 for each unit produced. c. Salary of quality control supervisor. d. Straight-line depreciation per unit on factory equipment. e. Total direct materials cost.
How would each of the following costs be classified if units produced is the activity base? a. Salary of factory supervisor ($120,000 per year) b. Straight-line depreciation of plant and equipment c. Property rent of $11,500 per month on plant and equipment
Provide Answer with calculation
If the cost of the beginning work in process is $67, 000 direct materials cost is $357, 000 direct labor cost is $223, 000 and overhead cost is $326, 000 and the ending work in process inventory is $62, 000 calculate the cost of goods manufactured
In the manufacture of 9,400 units of a product, direct materials cost incurred was $170,200, direct labor cost incurred was $110,800, and applied factory overhead was $49,000. What is the total conversion cost? a.$159,800 b.$49,000 c.$170,200 d.$330,000
A department has total conversion costs of $153,300 and total materials costs of $250,025. If the department has 36,500 equivalent units of production for materials and 73,000 equivalent units of production for conversion costs, what is the total manufacturing cost per unit? O $11.05 O $8.95 $9.50 O $2.65
In the manufacture of 10,000 units of a product, direct materials cost incurred was $143,700, direct labor cost incurred was $85,000, and applied factory overhead was $43,500. What is teh total conversion cost. A. $187,200 B. $128,500 C. $272,200 D. $43,500

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What is the cost of goods manufactured if beginning work in process was $30,000, ending work in process was $30,000, • raw materials used were $60,000, • direct labor was $50,000, and • manufacturing overhead was $20,000? a) $130,000 b) $160,000 c) $110,000 d) $190,000