Tasty Foods bakes and sells 2,000 dozen muffins each week. Among the costs are bakers' salaries, $24,000; production management salaries, $16,000; production equipment operating costs, $32,000; and flour and ingredient costs, $15,000. Using this information, compute: (a) prime costs and (b) conversion costs.
What will be an ideal response?
| (a) Prime Cost | (b) Conversation Cost |
| Bakers' Salaries | $24,000 | Bakers' Salaries | $24,000 |
| Flour & Ingredients | 15,000 | Management Salaries | 16,000 |
| Production Equipment | 32,000 |
| Prime Cost | $39,000 | Conversion Cost | $72,000 |
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