The Bayou Company makes crab pots. During the current month, direct materials costing $126,000 were put...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The Bayou Company makes crab pots. During the current month, direct materials costing $126,000 were put into production. Direct labor of $78,000 was incurred and overhead equaled $84,000. Selling and administrative expenses totaled $66,000 for the month and the company manufactured 3,000 crab pots Assume there was no beginning inventory and that 2,800 crab pots were sold. Required: A. Compute the per-unit product cost $ 102.86 B. Compute the per-unit prime cost C. Compute the per-unit conversion cost D. What is cost of goods sold for the month? $ E. What is the cost of ending finished goods for the month? The Bayou Company makes crab pots. During the current month, direct materials costing $126,000 were put into production. Direct labor of $78,000 was incurred and overhead equaled $84,000. Selling and administrative expenses totaled $66,000 for the month and the company manufactured 3,000 crab pots Assume there was no beginning inventory and that 2,800 crab pots were sold. Required: A. Compute the per-unit product cost $ 102.86 B. Compute the per-unit prime cost C. Compute the per-unit conversion cost D. What is cost of goods sold for the month? $ E. What is the cost of ending finished goods for the month?
Expert Answer:
Answer rating: 100% (QA)
Heres the breakdown of the Bayou Companys costs and calculations A Perunit product cost Total manufa... View the full answer
Related Book For
Managerial Accounting
ISBN: 9780073526706
12th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
Posted Date:
Students also viewed these accounting questions
-
A new project under consideration requires a capital outlay of Rs 300 Lakhs for which the funds can either be raised by Plan 1:issue of equity shares of Rs 300 Lakhs of Rs 100 each or Plan 2:issue of...
-
The MNO Company manufactures pencils. Last year, direct materials costing $800,000 were put into production. Direct labor of $400,000 was incurred and overhead equaled $1,000,000. The company had...
-
For selection of controls for the case-control analysis, investigators decided to use a matching process. Which variables did they choose to match on when selecting controls? For selection of...
-
Was AOL's policy to capitalize subscriber acquisition costs justified prior to 1995?
-
What ultimately becomes of the energy of sound in the air?
-
Pick a product like Cadillac or Sara Lee Deli products or service like Mr. Clean Performance Car Wash or a car and home insurance company that is offered in a limited number of countries. Assess the...
-
Accounting for Goodwill Fred Graf, owner of Graf Interiors, is negotiating for the purchase of Terrell Galleries. The balance sheet of Terrell is given in an abbreviated form below. Graf and Terrell...
-
Research Web-based database technologies and identify a database management system (other than SQL Server, MySQL, or Oracle) that is used to deploy applications to the Web and the cloud. Discuss the...
-
The owner's capital at the beginning amounted to P800,000. During the year, it increased to P980,000 with the owner making additional investment of P90,000 and withdrawing some supplies worth P8,000...
-
Compare and contrast surge versus congestion pricing. Provide a specific example of each currently in use.
-
Discuss the concept of "ethno-nationalism" and its manifestations in contemporary politics, including its impact on issues such as citizenship, immigration policies, and ethno-cultural conflicts ?
-
How do theories of "ethnogenesis" elucidate the complex processes through which ethnic identities emerge and evolve over time, particularly in contexts of migration, globalization, and cultural...
-
How do intersectional approaches to ethnicity, such as those informed by Kimberl Crenshaw's work on intersectionality, deepen our understanding of how race, gender, class, and other axes of identity...
-
In light of the fact that the maximizing of profits is the major objective of all profit-oriented businesses, the manager of the corporation ought to accord the highest priority to the generation of...
-
How should managers effectively include risk in the analysis of capital budgeting decisions?
-
Cable Corporation is 60% owned by Anna and 40% owned by Jim, who are unrelated. It has noncash assets, which it sells to an unrelated purchaser for $100,000 in cash and $900,000 in installment...
-
If the balance in Accounts Receivable increases during a period, how will this increase be recognized using the indirect method of computing the net cash provided by operating activities?
-
Your Boat, Inc., assembles custom sailboats from components supplied by various manufacturers. The company is very small and its assembly shop and retail sales store are housed in a Gig Harbor,...
-
Eastbay Hospital has an auxiliary generator that is used when power failures occur. The generator is worn out and must be either overhauled or replaced with a new generator. The hospital has...
-
Select an information system with which you are familiar, and which you feel needs to be improved, based upon your experiences as an employee, customer, other system user, or system owner, Switch...
-
You have learned the importance of making sure that requirements are correctly identified. Hut how do you know when you have a correct requirement-that is, what criteria must each requirement meet in...
-
Prepare a full feasibility analysis, including Economic, Operational, Schedule, Legal, and Technical analyses for the system you are suggesting in problem 1. Your analysis should be no more than 30...
Study smarter with the SolutionInn App