Wyandotte Company provided the following information for the last calendar year Beginning inventory Direct materials $25,900 Work in process 44,700 Ending inventory Direct materials $18,000 Work in process 22,700 During the year, direct materials purchases amounted to $256,900, direct labor cost wa...

1 Direct materials used 25900 256900 18000 264800 ...

Wyandotte Company provided the following information for the last calendar year: Beginning inventory: Direct materials ..... $25,900

Question:

Wyandotte Company provided the following information for the last calendar year:
Beginning inventory:
Direct materials ..... $25,900
Work in process ..... 44,700
:
Direct materials ..... $18,000
Work in process ..... 22,700
During the year, direct materials purchases amounted to $256,900, direct labor cost was $176,000, and overhead cost was $308,400. There were 40,000 units produced.
Required:
1. Calculate the total cost of direct materials used in production.
2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost.
3. Of the unit manufacturing cost calculated in Requirement 2, $6.62 is direct materials and $7.71 is overhead. What is the prime cost per unit? Conversion cost per unit?
Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...