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.

... 2. A firm's short-run margianl cost curve SMC = q2 + 20q + 100. Calculate the firm's short-run supply curve with q as a function of p, the market price. ...

... Should Destin reduce MX3's price by $3? Show your calculations. Please see the attached file. ... Should Destin reduce MX3's price by $3? Show your calculations. ...

... C. Let's calculate the EOQ Economic Order Quantity = square root of ((2 X Annual Demand X Cost Per Order) / Holding Cost Per Order) = Q* = √2 XDXS/H = √((2 ...

... By placing long-run orders with its key suppliers, Snappy expects to reduce the number of orders to 200 and the cost per order to $25 per ... Show calculations. ...

... is given, NPV can be calculated by dis f capital is given, NPV can be calculated by discounting the yearly cash inflows with cost of capital. NPV Calculator. ...