Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 2,250 cameras with the following costs: Direct materials $440,000 Direct labor 136,000 Manufacturing overhead 736,000 There were no beginning or ending inventories of WIP. Required: If required, round your answers to the nearest cent. 1. What was the total prime cost in January?$ 2. What was the prime cost per unit in January?$per unit 3. What was the total conversion cost in January?$ 4. What was the conversion cost per unit in January?$per unit
Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 2,250 cameras with the following costs: Direct materials $440,000 Direct labor 136,000 Manufacturing overhead 736,000 There were no beginning or ending inventories of WIP. Required: If required, round your answers to the nearest cent. 1. What was the total prime cost in January?$ 2. What was the prime cost per unit in January?$per unit 3. What was the total conversion cost in January?$ 4. What was the conversion cost per unit in January?$per unit
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter2: Basic Managerial Accounting Concepts
Section: Chapter Questions
Problem 39E: Cost Classification Loring Company incurred the following costs last year: Required: 1. Classify...
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Prime Cost and Conversion Cost
Grin Company manufactures digital cameras. In January, Grin produced 2,250 cameras with the following costs:
| Direct materials | $440,000 |
| Direct labor | 136,000 |
| Manufacturing overhead | 736,000 |
There were no beginning or ending inventories of WIP.
Required:
If required, round your answers to the nearest cent.
1. What was the total prime cost in January?
$
2. What was the prime cost per unit in January?
$per unit
3. What was the total conversion cost in January?
$
4. What was the conversion cost per unit in January?
$per unit
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