Prime Cost and Conversion Cost
Benton Engineering Services Company incurred the following during 2016
Direct labor | $23,500 |
Overhead |
31,500 |
Selling expenses |
28,000 |
Administrative expenses |
25,500 |
Calculate prime cost and conversion cost for Benton Engineering Services Company during 2016.
Prime cost: | Answer |
Conversion cost: | Answer |
Prime Cost and Conversion Cost Benton Engineering Services Company incurred the following during 2016 Direct labor...
Prime Cost and Conversion Cost Slapshot Company makes ice hockey sticks. Last week, direct materials (wood, paint, Kevlar, and resin) costing $24,000 were put into production. Direct labor of $28,000 (10 workers x 100 hours x $28 per hour) was incurred. Manufacturing overhead equaled $52,000. By the end of the week, the company had manufactured 4,400 hockey sticks. 1. Calculate the total prime cost for last week. 2. Calculate the per-unit prime cost. Round your answer to the nearest cent....
2. The following costs were incurred in September: Direct materials $43,100 Direct labor $24,800 Manufacturing overhead $18,100 Selling expenses $20,300 Administrative expenses $28,700 Prime costs during the month totaled:
The following costs were incurred in May: Direct materials $ 45,100 Direct labor $ 32,300 Manufacturing overhead $ 26,700 Selling expenses $ 17,900 Administrative expense $ 34,100 Prime costs during the month totaled:
2.Which of the following costs is both a prime cost and a conversion cost? direct materials direct labor manufacturing overhead administrative costs
Exercise A: Product Costs, Period Costs, Prime Costs and Conversion Costs The following costs were taken from the Kelly's Company. You are being asked to calculate the product costs, period costs, prime costs, and conversion costs. Cost incurred: I Selling expenses $40,000 Direct labor $100,000 Factory insurance $15,000 Factory depreciation $20,000 Indirect labor $35,000 Direct material $145,000 Administrative expenses $35,000 14,000 Factory utilities Indirect material $10,000
The following costs were incurred in October: Direct materials $ 33,000 Direct labor $ 13,000 Manufacturing overhead $ 23,000 Selling expenses $ 16,000 Administrative expenses $ 34,000 Conversion costs during the month totaled: $46,000 $119,000 $69,000 $36,000
The following costs were incurred in September Direct materials Direct labor Manufacturing overhead Selling expenses Administrative expenses $42.700 $29.400 $27.300 $23.600 $33.700 Conversion costs during the month totaledi O $56,700 $72.100 O $156,700 O $70,000
ACCT 21 - Chapter 2: Assignment Exercise A: Product Costs, Period Costs, Prime Costs and Conversion Costs The following costs were taken from the Kelly's Company. You are being asked to calculate the product costs, period costs, prime costs, and conversion costs. Cost incurred: Selling expenses $40,000 Direct labor $100,000 Factory insurance $15,000 Factory depreciation $20,000 Indirect labor $35,000 Direct material $145,000 Administrative expenses $35,000 Factory utilities 14,000 Indirect material $10,000
2. The following costs were incurred in May: Direct materials $39,300 $23,600 $22,200 Direct labor Manufactu ing overhead Selling expenses Administrative expense 00:01:00 $14,000 $30,800 Prime costs during the month totaled: Multiple Choice $85,100 $129,900 $62,900
The following costs were incurred in April: Direct materials Direct labor Manufacturing overhead Selling expenses Administrative expenses $57.000 $48.000 $40,000 $36.0po $51,000 Conversion costs during the month totaled: O $97.000 O $88.000 O $232.000 O $124.000