Noteworthy, Inc., produces and sells small electronic keyboards. Assume that you have the following information about Noteworthy’s costs for the most recent month.
Depreciation on factory equipment———————$800
Depreciation on CEO’s company car———————-100
Speakers used in the keyboard————————1,100
Production supervisor’s salary————————–2,200
Glue and screws used in the keyboards——————370
Wages of persons who install the speakers————2,800
Cost to run an ad on local radio stations—————-600
Utilities for the factory———————————-1,200
Personnel manager’s salary—————————-2,500
Wages of person who attaches legs to keyboards—1,950
1: Calculate the total product cost for Noteworthy. (Omit the “$” sign in your response.)
Total product cost:$_______
2: Calculate the prime cost for Noteworthy. (Omit the “$” sign in your response.)
Prime cost:$_______
3. Calculate the conversion cost for Noteworthy. (Omit the “$” sign in your response.)
Conversion cost:$_______
4: Calculate the manufacturing overhead for Noteworthy. (Omit the “$” sign in your response.)
Manufacturing overhead:$_______
5: Calculate the direct labor for Noteworthy. (Omit the “$” sign in your response.)
Direct labor:$_______
6: Calculate the total variable cost (with # units produced as the activity) for Noteworthy. (Omit the “$” sign in your response.)
Total variable cost:$_______
7: Calculate the total fixed cost (with # units produced as the activity) for Noteworthy. (Omit the “$” sign in your response.)
Total fixed cost:$_______