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    kaylamarie1's Avatar
    kaylamarie1 Posts: 3, Reputation: 1
    New Member
     
    #1

    Oct 22, 2013, 01:09 PM
    Definitions of manufacturing concepts
    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
    rehmanvohra's Avatar
    rehmanvohra Posts: 739, Reputation: 27
    Senior Member
     
    #2

    Oct 22, 2013, 11:52 PM
    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. Yes, because the question states that this represents materials used. That means that inventories and purchases have been adjusted to arrive at this figure.
    2. Total direct labor 140,000 - salaries and wages of machine operators.
    3. Total prime cost - Direct Materials and Direct labor: 80,000+140,000 = 220,000
    4. Total conversion cost - Direct labor and factory overheads: 140,000 + 18,000+8,000+62,000+39,000+29,000+48,000 = 344,000

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