a) What was the amount of Raw Materials used for the year?

b) What were the total Manufacturing costs for the year?

c) What were the total prime costs for the year?

d) What were the total conversion costs for the year?

e) What were the total Cost of Goods Manufactured for the year?

Solution Preview

Questions:

What was the amount of Raw Materials used for the year? (2 points)

Raw materials inventory, beginning= $80 (Given)
Add Purchases of raw materials= $200 (Given)
Raw materials available for use= $280 =80 + 200
Less Raw materials inventory, ending= ($30) (Given)
Amount of raw materials used= $250 =280 -30

Answer: Amount of raw materials used= $250

What were the total Manufacturing costs for the year? (2 ...

Solution Summary

The solution calculates amount of raw materials, total manufacturing costs, total prime costs, total conversion costs, total cost of goods manufactured for the year.

Calculate the cost of capital (show calculations) for Pfizer using the following: A) Weighted Average cost of capital B) Capital -asset pricing model (beta). ...

... Sales - Total Cost (Direct Material + Direct Labor) Calculation of Gross Profit Margin (in 1988): For product 1: Sales = $62 Total cost =16 + 6 = $22 Then ...

... 0 25,000 50,000 75,000 100,000 Total Revenue FORMULA FORMULA FORMULA FORMULA FORMULA Variable costs FORMULA FORMULA FORMULA FORMULA FORMULA Contribution margin ...

... 1. Calculation of reliability for Integrated Switches Corporation of Phoenix Arizona and 2. Decision making for different options based on Total Annual cost...

... Ending inventory 24 Formula 4 Cost of goods sold--FIFO 25 Formula 5 Gross profit 26 Units Cost Amount 27 b. Ending inventory using LIFO periodic 28 Enter date ...

... d. Find the cost equation for the tile. Write your answer in the form C = mx + b. ... Solution: b = $300. d. Find the cost equation for the tile. ...

... the previous example, waiting cost is assessed only on the "waiting-in-queue" part when planes are airborne, so we use Lq in the calculation of waiting cost. ...