CourseLover

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Teaching Since: May 2017
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    Devry University
    Sep-2004 - Aug-2010

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  • Assistant Financial Analyst
    NatSteel Holdings Pte Ltd
    Aug-2007 - Jul-2017

Category > Management Posted 22 Dec 2017 My Price 10.00

Total Product Cost and Per-Unit Product Cost

1. Total Product Cost and Per-Unit Product Cost

Slapshot Company makes ice hockey sticks. Last week, direct materials (wood, paint, Kevlar, and resin) costing $26,000 were put into production. Direct labor of $20,000 (10 workers x 100 hours x $20 per hour) was incurred. Manufacturing overhead equaled $70,000. By the end of the week, the company had manufactured 7,000 hockey sticks

Calculate the per-unit cost of one hockey stick that was produced last week. Round your answer to the nearest cent. (16.6 was incorrect)

 

2. Prime Cost and Conversion Cost

Slapshot Company makes ice hockey sticks. Last week, direct materials (wood, paint, Kevlar, and resin) costing $28,000 were put into production. Direct labor of $20,000 (10 workers x 100 hours x $20 per hour) was incurred. Manufacturing overhead equaled $51,000. By the end of the week, the company had manufactured 4,000 hockey sticks

Calculate the per-unit conversion cost. Round your answer to the nearest cent. (17.8 was incorrect)

 

Cost of Goods Manufactured

Slapshot Company makes ice hockey sticks. During the month of June, the company purchased $121,000 of materials. Also during the month of June, Slapshot Company incurred direct labor cost of $159,000 and manufacturing overhead of $218,000. Inventory information is as follows:

 

2. Calculate the cost of one hockey stick assuming that 18,000 sticks were completed during June. Round your answer to the nearest cent. (27.9 was incorrect)

 

Direct Materials Used, Cost of Goods Manufactured

In March, Chilton Company purchased materials costing $13,000 and incurred direct labor cost of $18,000. Overhead totaled $35,000 for the month. Information on inventories was as follows:

 

March 1

  

March 31

Materials

$8,000

  

$8,400

Work in process

$1,700

  

$9,000

Finished goods

$6,000

  

$9,700

 

2. What was the total manufacturing cost in March? (66,000 was incorrect)

 

3. What was the cost of goods manufactured for March? (58,700 was incorrect)

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Answers

CourseLover
(12)
Status NEW Posted 22 Dec 2017 06:12 AM My Price 10.00

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