Finding Unknowns
BS&T Partners has developed a new hubcap with the model name Spinnin’ Wheel. Production and sales started August 3. As of August 2, there were no direct materials in inventory. Data for the month of August include the following:
Direct labor cost per unita |
$6.25 |
Direct labor hours worked, August |
________ |
Direct labor wage rate per direct labor hour |
$20.00 |
Direct materials cost per unita |
$5.00 |
Direct materials cost per pound of direct material |
$10.00 |
Direct materials inventory (cost), August 31 |
$3,500 |
Direct materials inventory (units), August 31 |
________ |
Finished goods inventory (cost), August 31 |
$10,800 |
Finished goods inventory (units), August 31 |
________ |
Manufacturing overhead cost per unita. |
$15.75 |
Operating profit, August |
$55,200 |
Production (units), August |
________ |
Revenues, August |
$414,000 |
Sales (units), August |
________ |
Selling price per unit |
________ |
Selling, general, and administrative costs per unitb |
$12.00 |
a Unit cost based on units produced in August.
b Unit cost based on units sold in August.
Required
Complete the table.