Question

In: Operations Management

Prime cost worksheet (figure %, cost & sales to two decimal places) Open and use the...

Prime cost worksheet (figure %, cost & sales to two decimal places)

Open and use the following chart below for the “prime cost” quiz. 10 questions for boxes A - J

Cost of sales + cost of Labor = Prime cost

Prime cost – cost of labor = cost of sales

Prime cost – cost of sales = cost of labor

Prime cost ÷ sales = prime cost %

Prime cost x PC% = Sales

Sales X PC% = prime cost

COST OF SALES	COST OF LABOR	PRIME COST	SALES	PRIME COST %
(A)	116,571.25	253,192.72	(B)	65.15%
82,317.54	89,994.45	(C)	283,850.50	(D)
736,780.23	(E)	1,511,023.48	2,497,560.95	(F)
(H)	2,439.23	(G)	6,420.75	72.99%
32,115.78	(I)	66,269.35	(J)	63.81%

Solutions

Expert Solution

Cost of sales	Cost of labour	Prime Cost	Sales	Prime Cost %
(A)	1,16,571.25	253192.72	(B)	65.15%
82317.54	89994.45	( C )	283850.5	(D)
7,36,780.23	( E )	1511023.48	2497560.95	(F)
(H)	2439.23	(G)	6420.75	72.99%
32,115.78	(I)	66269.35	(J)	63.81%

Cost of sales + cost of Labor = Prime cost

Prime cost – cost of labor = cost of sales

Prime cost – cost of sales = cost of labor

Prime cost ÷ sales = prime cost %

Prime cost ÷ PC% = Sales

Sales X PC% = prime cost

A: Cost of sales = prime cost - cost of labor = 253192.72 - 116571.25 = 136,621.47

B: Sales = Prime cost/PC% = 253192.72/65.15% = 388,630.42

C: Prime cost = cost of sales + cost of labour = 82317.54 + 89994.45 = 172,311.99

D: Prime cost% = prime cost/sales = 172311.99/283850.5 = 60.71%

E: Cost of labour = Prime cost - cost of sales = 1511023.48 - 736780.23 = 774,243.25

F: Prime cost % = prime cost/sales = 1511023.48/2497560.95 = 60.50%

G: Prime cost = sales X PC% = 6420.75X72.99% = 4,686.51

H: Cost of sales = Prime sales - cost of labour = 4686.51 - 2439.23 = 2,247.28

I: Cost of labour = prime sales - cost of sales = 66269.35 - 32115.78 = 34,153.57

J: Sales = prime cost/PC% = 66269.35/63.81% = 103,854.18

keosha answered 1 month ago

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