= $448,000 (30 Minutes) Cost Concepts: Emporia Precision Parts. a. $87,000. Prime costs = Direct materials used + Direct labor costs Direct materials used = Prime costs Direct labor costs – = $147,000 $60,000 – = $87,000 b. $18,000. Direct materials used = Beginning inventory + purchases ending inventory – Direct materials, = Direct materials used purchases + ending inventory – beginning inventory $87,000 $84,000 + $15,000 – = $18,000 c. $180,000. Total manufacturing = Prime costs + Conversion costs Direct labor cost – costs Conversion cost = Total manufacturing costs Prime costs + Direct labor – cost = $267,000 $147,000 + $60,000 – = $180,000 d. $6,000. Work-in-process, ending = Work-in-process, beginning + Total manufacturing costs Cost of goods manufactured – $9,000 + $267,000 $270,000 – = $6,000 e. $120,000. Conversion cost = Direct labor costs + Manufacturing overhead Manufacturing overhead = Conversion costs Direct labor costs – = $180,000 $60,000 – = $120,000
= $448,000 (30 Minutes) Cost Concepts: Emporia Precision Parts. a. $87,000. Prime costs = Direct materials used + Direct labor costs Direct materials used = Prime costs – Direct labor costs = $147,000 – $60,000 = $87,000 b. $18,000. Direct materials used = Beginning inventory + purchases – ending inventory Direct materials, beginning inventory = Direct materials used – purchases + ending inventory $87,000 – $84,000 + $15,000 = $18,000 c. $180,000. Total manufacturing costs = Prime costs + Conversion costs – Direct labor cost Conversion cost = Total manufacturing costs – Prime costs + Direct labor cost = $267,000 – $147,000 + $60,000 = $180,000 d. $6,000. Work-in-process, ending = Work-in-process, beginning + Total manufacturing costs – Cost of goods manufactured $9,000 + $267,000 – $270,000 = $6,000 e. $120,000. Conversion cost = Direct labor costs + Manufacturing overhead Manufacturing overhead = Conversion costs – Direct labor costs = $180,000 – $60,000 = $120,000
Solution-Manual-for-Fundamentals-of-Cost-Accounting-4th-Edition-by-Lanen.docx