Jax company produces chemical used in food preservatives. Jax company requires the controller to prepare...
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Jax company produces chemical used in food preservatives. Jax company requires the controller to prepare a statement of cost of goods manufactured. During 2022, $361,920 of direct material were purchased. Inventory account balances and operating data for 2022 are given below. Required: Part A: Prepare a schedule of cost of goods manufactured in proper format (9 marks) Part B: Answer the following (1 mark each) (1) What is the cost of material used $ (2) What is the total manufacturing cost for the year (3) What is the cost of goods manufactured for the year (4) Assuming 13,397 units were manufactured what is the actual product unit cost. -- (5) What is the prime cost per unit $ (6) What is the conversion cost per unit \$
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Jax company produces chemical used in food preservatives. Jax company requires the controller to prepare a statement of cost of goods manufactured. During 2022, $361,920 of direct material were purchased. Inventory account balances and operating data for 2022 are given below. Required: Part A: Prepare a schedule of cost of goods manufactured in proper format (9 marks) Part B: Answer the following (1 mark each) (1) What is the cost of material used $ (2) What is the total manufacturing cost for the year (3) What is the cost of goods manufactured for the year (4) Assuming 13,397 units were manufactured what is the actual product unit cost. -- (5) What is the prime cost per unit $ (6) What is the conversion cost per unit \$ 