Assignment: Star Repairs Co. does all the repair work for a medium-sized manufacturer of handheld computer games. The games are sent directly to Star, and after the games are repaired, Star bills the game manufacturer for cost plus a 20 percent markup. In the month of February, purchases of parts (replacement parts) by Star amounted to $97,000, the beginning inventory of parts was $38,500, and the ending inventory of parts was $15,250. Payments to repair technicians during the month of February totaled $52,500. Overhead incurred was $121,000.
Question 1: What was the cost of materials used for repair work during the month of February?
Question 2: What was the prime cost for February?
Question 3: What was the conversion cost for February?
Question 4: What was the total repair cost for February?