Explain the definitions of manufacturing concepts


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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Accounting Basics: Explain the definitions of manufacturing concepts
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