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23) Assume the following information pertaining to Cub Company: Prime costs charged to jobs during 2018 $195,000 Conversion c

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Answer #1

Prime cost = 195,000

Direct materials + Direct Labor = 195,000

85,000 + Direct Labor = 195,000

Direct labor = 195,000 - 85,000 = 110,000

Conversion cost = Direct Labor + Overhead

225,000 = 110,000 + Overhead

Overhead = 225,000-110,000 = 115,000

Total manufacturing cost = Direct Materials + Direct Labor + Overhead

= 85,000 + 110,000 + 115,000

= 310,000

Cost of Goods manufactured = Beg wip + Total manufacturing cost - End wip

= 100,000+310,000-80,000

= 330,000

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