Solved: Interstate manufacturing produces brass fasteners and, Financial Accounting

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Interstate manufacturing produces brass fasteners and

Definitions of manufacturing concepts

Interstate Manufacturing produces brass fasteners and incurred the following costs for the year just ended:

Materials and supplies used

Brass $75,000

Repair parts 16,000

Machine lubricants 9,000

Wages and salaries Machine operators 128,000

Production supervisors 64,000

Maintenance personnel 41,000

Other factory overhead Variable 35,000

Fixed 46,000

Sales commissions 20,000

Compute:

a. Total direct materials consumed

b. Total direct labor

c. Total prime cost

d. Total conversion cost

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Financial Accounting: Interstate manufacturing produces brass fasteners and

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Financial Accounting: Interstate manufacturing produces brass fasteners and

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