The following Company, which has only one product, has provided the following data concerning its most recent month of operations: Selling price: $ 175 Units Data: Units in beginning inventory 0 Units produced 9,500 Units sold 8,000 Units in ending Inventory 1,500 Variable costs per unit: Direct materials $ 55 Direct labor $ 38 Variable manufacturing overhead $ 2 Variable selling and admin $ 10 Fixed costs: Fixed manufacturing overhead $ 300,000 Fixed selling and admin $ 125,000 REQUIRED: a. What is the unit product cost for the month under variable costing? b. What is the unit product cost for the month under absorption costing? c. Prepare an income statement for the month using the variable costing method. d. Prepare an income statement for the month using the absorption costing method.
Get Answers For Free
Most questions answered within 1 hours.