Murphy Inc., which produces a Single producthas provided the following data for its most recentMonth of operation.Number of units producedVariable cost per unit:Direct materials.Direct LabovVariable manufacturing overheadVariableand adminstrative expenses.SellingFixed cost:Fixed manufacturing OverheadFixed Selling and adminstrative expenses7,000$37$43$15$84,000$119,000The Company had no beginning or ending inventoriesRequireda. Compute the unit product cost under absorption costingb. Compuse the unit product cost under variable costing.

Under Variable Costing Method; the per unit Direct Materials, Direct Labor and Variable…

Murphy Inc., which produces a Single product. has provided the following data for its most recent Month of operation. Number of units produced Variable cost per unit: Direct materials. Direct Labov Variable manufacturing overhead Variable Selling and adminstrative expenses Fixed cost: Fixed manufacturing Overhead Fixed Selling and adminstrative expenses 7,000 $37 $43 $15 $84,000 का 119,000 The Company had no beginning or ending inventories Required a. Compute the unit product cost under absorption costing b. Compuse the unit product cost under variable Costing.

Murphy Inc., which produces a Single product. has provided the following data for its most recent Month of operation. Number of units produced Variable cost per unit: Direct materials. Direct Labov Variable manufacturing overhead Variable Selling and adminstrative expenses Fixed cost: Fixed manufacturing Overhead Fixed Selling and adminstrative expenses 7,000 $37 $43 $15 $84,000 का 119,000 The Company had no beginning or ending inventories Required a. Compute the unit product cost under absorption costing b. Compuse the unit product cost under variable Costing.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?
What are the total costs to account for if a companys beginning inventory had $231,432 in materials, $186,450 in conversion costs, and added direct material costs ($4,231,392), direct labor ($2,313,392), and manufacturing overhead ($1,156,696)?
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