Wright Company reports production costs for 20X6 as follows: direct materials used $375,000.00 direct labor incurred $250,000.00 manufacturing overhead incurred $400,000.00 manufacturing overhead incurred $145,000.00

Wright Company reports production costs for 20X6 as follows: direct materials used $375,000.00 direct labor incurred $250,000.00 manufacturing overhead incurred $400,000.00 manufacturing overhead incurred $145,000.00

Name: 2.Wright Company reports production costs for 20X6 as follows:direct
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: 2.Wright Company reports production costs for 20X6 as follows:direct materials used$375,000.00direct labor incurred$250,000.00manufacturing overhead incurred$400,000.00manufacturing overhead incurred$145,000.00Wright Company's inventoriable product

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 8EB: A production department within a company received materials of $7,000 and conversion costs of $5,000...

See similar textbooks

Similar questions

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?
Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 2.70 is direct materials and 5.30 is overhead. What is the prime cost per unit? Conversion cost per unit?
1)Learned Corporation has provided the following information:Cost perUnitCost per PeriodDirect materials $ 5.00Direct labor $ 4.25Variable manufacturing overhead $ 1.85Fixed manufacturing overhead $ 35,000Sales commissions $ 0.70Variable administrative expense $ 0.60Fixed selling and administrative expense $ 9100Required:a. For financial reporting purposes, what is the total amount of product costsincurred to make 7000 units?b. For financial reporting purposes, what is the total amount of period costsincurred to sell 7000 units?c. If the selling price is $23.80 per unit, what is the contribution margin per unitsold? (Round your answer to 2 decimal places.)d. If 8000 units are produced, what is the total amount of direct manufacturingcost incurred?e. If 8000 units are produced, what is the total amount of indirect manufacturingcosts incurred?a. Total product (manufacturing) costb. Total period (manufacturing) costc. Contribution margin per unitd. Total direct manufacturing coste. Total…
Compute conversion costs given the following data: direct materials, $393,800; direct labor, $198,500; factory overhead, $200,400 and selling expenses, $36,900. Oa, 5594,200 Ob. $163,500 Oc. S398,900 Od. $792,700
Compute conversion costs given the following data: direct materials, $354,200; direct labor, $207,800; factory overhead, $193,000 expenses, $45,200. Oa. $755,000 Ob. $147,800 Oc. $400,800 Od. $547,200
Compute conversion costs given the following data: direct materials, $363,200; direct labor, $204,600; factory overhead, $192,100 and selling expenses, $39,100. a. $555,300 b. $759,900 O c. $153,000 od. $396,700
6. The following cost relate to XYZ Corp for the year:Sales commission expenses P 185,000Direct materials 215,000Conversion cost 435,000Factory overhead 190,000 (40% of which is fixed)What is the TOTAL MANUFACTURING (PRODUCT) COSTS?
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
Compute conversion costs given the following data: direct materials, $389,300; direct labor, $191,900; factory overhead, $218,400 and selling expenses, $44,000. a.$799,600 b.$607,700 c.$174,400 d.$410,300
Compute conversion costs given the following data: direct materials, $359,700; direct labor, $190,200; factory overhead, $197,100 and selling expenses, $47,700. a. $747,000 b. $149,400 c. $387,300 d. $556,800
Selected data from Design Corporation for 20X6 is as follows: Inventories Materials Work in process Finished goods Beginning $34,000 135,000 110,000 Costs incurred during 20x6 are as follows: Direct materials purchased Manufacturing overhead Direct manufacturing wages Cost of goods sold is Select one: O a. $252,000 O b. $259,000 O c. $244,000 O d. $236,000 Ending $40,000 150,000 102,000 $41,000 $80,000 180% of manufacturing overhead
Manufacturing cost data for Morton Company are presented below. Case A Case B Case C Direct materials used (a) $75,400 $130,000 Direct labor $ 57,000 76,000 (g) Manufacturing overhead 46,500 81,600 102,000 Total manufacturing costs 195,650 (d) 283,700 Work-in-process, 1/1/16 (b) 16,500 (h) Total cost of work-in-process 221,500 (e) 327,000 Work-in-process, 12/31/16 (c) (9,000) 80,000 Cost of goods manufactured 180,275 (f) (i) Instructions Indicate the missing amount for each letter (a) through (i).