The cost of direct materials transferred into the Rolling Department of Keystone Steel Company is $510,000. The conversion cost forthe period in the Rolling Department is $81,200. The total equivalent units for the disrect materials and conversion are 8,500 tons and8,120 tons, respectivelyDetermine the direct materials and conversion costs per equivalent unitDirect Materials = $60 per tonConversion = $10 per tonDirect Materials = $10 per tonConversion = $60 per tonDirect Materials = 5 85,000 per tonConversion = $81,200 per tonDirect Materials $6 per tonConversion = $1 per ton

Direct Materials refers to the raw materials used to manufacture a product. Normally all the direct…

Answered: The cost of direct materials…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 5BE: The cost of direct materials transferred into the Rolling Department of Kraus Company is 3,000,000....

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A production department within a company received materials of $7,000 and conversion costs of $5,000 from the prior department. It added material of $78400 and conversion costs of $47000. The equivalent units are 5,000 for material and 4,000 for conversion. What is the unit cost for materials and conversion?
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 Converting Department of Worley Company had 2,400 units in work in process at the beginning of the period, which were 35% complete. During the period, 10,800 units were completed and transferred to the Packing Department. There were 1,900 units in process at the end of the period, which were 60% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs.
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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?
Vexar manufactures nails. Manufacturing is a one-step process where the nails are forged. This is the information related to this years production: Â Ending inventory was 100% complete as to materials and 70% complete as to conversion, and the total materials cost is $115,080 and the total conversion cost is $72,072. Using the weighted-average method, what are the unit costs if the company transferred out 34,000 units? Using the weighted-average method, prepare the companys process cost summary for the month.
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The cost of direct materials transferred into the Rolling Department of Kraus Company is $3,000,000. The conversion cost for the period in the Rolling Department is $462,600. The total equivalent units for direct materials and conversion are 4,000 tons and 3,855 tons, respectively. Determine the direct materials and conversion costs per equivalent unit. Direct materials cost per equivalent unit: $______ per ton Conversion cost per equivalent unit: $______per ton
The cost of direct materials transferred into the Rolling Department of Keystone Steel Company is $510,000. The conversion cost for the period in the Rolling Department is $81,200. The total equivalent units for the disrect materials and conversion are 8,500 tons and 8,120 tons, respectively. Determine the direct materials and conversion costs per equivalent unit
The cost of direct materials transferred into the Rolling Department of Keystone Steel Company is $510,000. The conversion cost for the period in the Rolling Department is $81,200. The total equivalent units for direct materials and conversion are 8,500 tons and 8,120 tons, respectively. Determine the direct materials and conversion costs per equivalent unit.

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