FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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In the manufacture of 9,600 units of a product, direct materials cost incurred was $177,300, direct labor cost incurred was $114,600, and applied factory
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- Compute conversion costs given the following data: direct materials, $347,500; direct labor, $196,300; factory overhead, $187,900; and selling expenses, $45,290. a.$543,800 b.$187,900 c.$384,200 d.$731,700arrow_forwardCost per Equivalent Unit The cost of direct materials transferred into the Rolling Department of Jabari Company is $6,000,000. The conversion cost for the period in the Rolling Department is $925,200. The total equivalent units for direct materials and conversion are 16,000 tons and 15,420 tons, respectively. Determine the direct materials and conversion costs per equivalent unit. Direct materials cost per equivalent unit: $ Conversion cost per equivalent unit:: per ton per tonarrow_forwardThe cost of direct materials transferred into the Rolling Department of Jabari Company is $520, 800. The conversion cost for the period in the Rolling Department is $281,300. The total equivalent units for direct materials and conversion are 2, 800 tons and 4, 850 tons, respectively. Determine the direct materials and conversion costs per equivalent unit. Direct materials cost per equivalent unit: fill in the blank 1 of 2$ per ton Conversion cost per equivalent unit: fill in the blank 2 of 2$ per tonarrow_forward
- Joy Inc. has started manufacturing 15,000 units of a product. Direct materials cost incurred was $225,000, direct labor cost incurred was $192,000, and applied factory overhead was $68,000.What is the amount of total conversion cost? Group of answer choices $417,000 $293,000 $260,000 $485,000arrow_forwardThe cost of warehouse space is allocated to three inventories: raw materials, work - process, and finished goods. The inventories use the warehouse space in the ratio of one-third to one-sixth to three-eighths, respectively. If the total warehouse space is 9.6 million square meters at a cost of $11.55 million, how much of the cost should be allocated to each of the inventories?arrow_forwardIn the manufacture of 9,300 units of a product, direct materials cost incurred was $173,200, direct labor cost incurred was $114,700, and applied factory overhead was $48,800. What is the total conversion cost? A. $173,200 B.$163,500 C.$336,700 D. $48,800arrow_forward
- Department W had 2,460 units, one-third completed at the beginning of the period; 12,500 units were transferred to Department X from Department W during the period; and 1,500 units were one-half completed at the end of the period. Assume the completion ratios apply to direct materials and conversion costs. The equivalent units of production used to compute unit conversion cost on the cost of production report for Department W, assuming the company uses FIFO, arearrow_forwardA production department within a company received materials of $11,632 material of $20,944 and conversion costs of $47,607. The equivalent units for conversion? Round to the nearest penny, two decimal places. are 29,937 for material and 18,214 for conversion. What is the unit cost and conversion costs of $10,660 from the prior department. It addedarrow_forwardA 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 $2.65arrow_forward
- A manufacturing department has 50,000 EUP for units completed and transferred out and 4,500 EUP for units in ending inventory. Materials cost is $2.50 per EUP and labor/overhead cost is $3.75 per EUP. The total amount transferred out is $arrow_forwardThe 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.arrow_forwardIn the manufacture of 9,400 units of a product, direct materials cost incurred was $177,400, direct labor cost incurred was $106,100, and applied factory overhead was $43,600. What is the total conversion cost? Oa..$149,700 Ob. $327,100 Oc. $43,600 Od. $177,400arrow_forward
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