Question

Polyester fiber purchased	$	639,000
Conversion cost incurred	$	1,566,000
Direct materials standard cost	$	3.50	per yard of cloth
Conversion standard cost	$	7.65	per yard of cloth
Units produced		169,000	yards of cloth

The beginning inventory of polyester fiber was $150,500, and the ending inventory was $186,900.

Answer 1

Cost sheet

Units produced	169,000 Yard
	Amount ($)	Amount($)
Direct cost
Polyester fiber consumed:
Beginning inventory of poleyster	150,500
Add: Purchase of polyester	639,000
Less: Closing inventory of poleyster	(186,900)
Polyester fiber consumed		602,600
Direct materials standard cost: ($3.50*169,000 Yard)		591,500
Conversion standard cost: ($7.65*169,000 Yard)		1,292,850
Conversion cost incurred		1,566,000
Total Cost		4,052,950