Reference no: EM132850214
Problem 1 - Grin Company manufactures digital cameras. In January, Grin produced 5,250 cameras with the following costs:
Direct materials $480,000
Direct labor 96,000
Manufacturing overhead 384,000
There were no beginning or ending inventories of WIP.
Required -
1. What was the total product cost in January?
2. What was the product cost per unit in January? Round your answer to the nearest cent.
Problem 2 - Slapshot Company makes ice hockey sticks. Last week, direct materials (wood, paint, Kevlar, and resin) costing $26,000 were put into production. Direct labor of $20,000 (10 workers x 100 hours x $20 per hour) was incurred. Manufacturing overhead equaled $55,000. By the end of the week, the company had manufactured 3,000 hockey sticks.
Required -
1. Calculate the total product cost for last week.
2. Calculate the per-unit cost of one hockey stick that was produced last week. Round your answer to the nearest cent.
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