The Majors Company has gathered the following information for the year ended December 31, 20X3. 
There were no beginning or ending inventories.
Required:
Calculate the following:
a. Prime cost
b. Conversion cost
c. Total product cost
d. Total period cost
Definitions:
Fluid Intelligence
The capability to reason and think flexibly, solving new problems without relying on acquired knowledge.
Crystallized Intelligence
The ability to use learned knowledge and experience, typically stable or increasing with age.
Fluid Intelligence
The ability to think abstractly, reason, identify patterns, and solve problems quickly, which tends to decrease with aging.
Cognitive Capacity
The total amount of information that the human brain is capable of retaining and processing.
Q6: The equivalent units for conversion costs are<br>A)
Q10: The variable overhead spending variance is<br>A) $4,500
Q16: The amount by which price exceeds cost.
Q17: Net income less "imputed" interest.
Q18: The materials usage variance is<br>A) $4,000 favourable.<br>B)
Q43: An improvement in either capital turnover or
Q91: An example of a volume-driven cost in
Q91: A well-designed management control system ignores nonfinancial
Q96: If invested capital is defined as total
Q98: Assuming a company uses a cost-based pricing