Wyandotte Company provided the following information for the last calendar year: Beginning inventory: Direct materials $33,200 Work in process 40,800 Ending inventory: Direct materials $22,000 Work in process 22,000 During the year, direct materials purchases amounted to $257,200, direct labor cost was $170,800, and overhead cost was $319,600. There were 40,000 units produced. Required: 1. Calculate the total cost of direct materials used in production. $fill in the blank 1 2. Calculate the cost of goods manufactured. $fill in the blank 2 Calculate the unit manufacturing cost. If required, round your answer to the nearest cent. $fill in the blank 3 per unit 3. Of the unit manufacturing cost calculated in Requirement 2, $6.71 is direct materials and $7.99 is overhead. If required, round intermediate calculations and your final answers to the nearest cent. What is the prime cost per unit? $fill in the blank 4 per unit What is the conversion cost per unit? $fill in the blank 5 per unit
Wyandotte Company provided the following information for the last calendar year: Beginning inventory: Direct materials $33,200 Work in process 40,800 Ending inventory: Direct materials $22,000 Work in process 22,000 During the year, direct materials purchases amounted to $257,200, direct labor cost was $170,800, and overhead cost was $319,600. There were 40,000 units produced. Required: 1. Calculate the total cost of direct materials used in production. $fill in the blank 1 2. Calculate the cost of goods manufactured. $fill in the blank 2 Calculate the unit manufacturing cost. If required, round your answer to the nearest cent. $fill in the blank 3 per unit 3. Of the unit manufacturing cost calculated in Requirement 2, $6.71 is direct materials and $7.99 is overhead. If required, round intermediate calculations and your final answers to the nearest cent. What is the prime cost per unit? $fill in the blank 4 per unit What is the conversion cost per unit? $fill in the blank 5 per unit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Wyandotte Company provided the following information for the last calendar year:
| Beginning inventory: | ||
| Direct materials | $33,200 | |
| Work in process | 40,800 | |
| Ending inventory: | ||
| Direct materials | $22,000 | |
| Work in process | 22,000 |
During the year, direct materials purchases amounted to $257,200, direct labor cost was $170,800, and
Required:
1. Calculate the total cost of direct materials used in production.
$fill in the blank 1
2. Calculate the cost of goods manufactured.
$fill in the blank 2
Calculate the unit
$fill in the blank 3 per unit
3. Of the unit manufacturing cost calculated in Requirement 2, $6.71 is direct materials and $7.99 is overhead. If required, round intermediate calculations and your final answers to the nearest cent.
What is the prime cost per unit?
$fill in the blank 4 per unit
What is the conversion cost per unit?
$fill in the blank 5 per unit
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