Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN: 9781305970663
Author: Don R. Hansen, Maryanne M. Mowen
Publisher: Cengage Learning
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In August, purchases of materials equaled $9,750, the beginning
inventory of materials was $850, and the ending inventory of
materials was $950. Payments for direct labor during the month
totaled $18,570. The Overhead incurred was $15,000. Spent $5,000
on advertising during the month. Admin. costs (primarily accounting
& legal services) amounted to $3,000 for the month. Revenues for
August were $60,400.
1. What was the cost of materials used during August?
2. What was the prime cost for August?
3. What was the conversion cost for August?
4. What was the total cost of services for August?
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Transcribed Image Text:In August, purchases of materials equaled $9,750, the beginning inventory of materials was $850, and the ending inventory of materials was $950. Payments for direct labor during the month totaled $18,570. The Overhead incurred was $15,000. Spent $5,000 on advertising during the month. Admin. costs (primarily accounting & legal services) amounted to $3,000 for the month. Revenues for August were $60,400. 1. What was the cost of materials used during August? 2. What was the prime cost for August? 3. What was the conversion cost for August? 4. What was the total cost of services for August?
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