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Gibson corporation has compiled the following information from the accounting system for the one product it...

Gibson corporation has compiled the following information from the accounting system for the one product it sells

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Answer #1

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a. Variable manufacturing cost: $90 + $55 + $20= $165

b. Variable cost: $90 + $55 + $20 + $6 = $171

c. Full absorption cost: $90 + $55 + $20 + ($54,000 ÷ 1,800 units) = $195

d. Full cost: $90 + $55 + $20 + $6 + ($54,000 ÷ 1,800 units) + ($36,000 ÷ 1,800 units) = $221

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