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Grin Company manufactures digital cameras
Grin Company manufactures digital cameras. In January, Grin produced 4,250 cameras with the following costs: Direct materials $560,000 Direct labor 200,000 Manufacturing overhead 768,000 There were no beginning or ending inventories of WIP. Required: If required, round your answers to the nearest cent.
1. What was the total prime cost in January? $
2. What was the prime cost per unit in January?
$
per unit
3. What was the total conversion cost in January? $
4. What was the conversion cost per unit in January?
$
per unit
Expert Solution
| Direct materials | $560,000 |
| Direct labor | $200,000 |
| Manufacturing overhead | $768,000 |
| Total Prime Cost | $1,528,000 |
| Total Prime Cost | $1,528,000 |
| Number of units produced | 4,250 |
| Prime cost per unit ($1,528,000/4,250) | $359.53 |
| Direct labor | $200,000 |
| Manufacturing overhead | $768,000 |
| Total Conversion Cost | $ 968,000 |
| Total Conversion Cost | $968,000 |
| Number of units produced | 4,250 |
| Conversion cost per unit ($776,000/4,250) | $227.76 |
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