kaylamarie1
Oct 22, 2013, 01:09 PM
J & B Manufacturing produces brass fasteners and incurred the following costs for the year just ended:
Materials and supplies used
Brass $80,000
Repair parts 18,000
Machine lubricants 8,000
Wages and salaries Machine operators 140,000
Production supervisors 62,000
Maintenance personnel 39,000
Other factory overhead Variable 29,000
Fixed 48,000
Sales commissions 20,000
Compute:
1. Total direct materials consumed
2. Total direct labor
3. Total prime cost
4. Total conversion cost
Does anyone know the formulas to these questions? For
1. I found (beginning inventory+purchased direct material - ending inventory), but that doesn't seem fit
Materials and supplies used
Brass $80,000
Repair parts 18,000
Machine lubricants 8,000
Wages and salaries Machine operators 140,000
Production supervisors 62,000
Maintenance personnel 39,000
Other factory overhead Variable 29,000
Fixed 48,000
Sales commissions 20,000
Compute:
1. Total direct materials consumed
2. Total direct labor
3. Total prime cost
4. Total conversion cost
Does anyone know the formulas to these questions? For
1. I found (beginning inventory+purchased direct material - ending inventory), but that doesn't seem fit