Columbia Products produced and sold 1,400 units of the company’s only product in March. You have collected the following information from the accounting records: Sales price (per unit)$138Manufacturing costs: Fixed overhead (for the month) 15,400Direct labor (per unit) 9Direct materials (per unit) 33Variable overhead (per unit) 24Marketing and administrative costs: Fixed costs (for the month) 21,000Variable costs (per unit) 4 Required:Compute the following: 4.Full absorption cost per unit.5.Prime cost per unit.6.Conversion cost per unit.

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Answered: Columbia Products produced and sold…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Columbia Products produced and sold 1,400 units of the company’s only product in March. You have collected the following information from the accounting records:


Sales price (per unit)	$	138
Manufacturing costs:
Fixed overhead (for the month)		15,400
Direct labor (per unit)		9
Direct materials (per unit)		33
Variable overhead (per unit)		24
Marketing and administrative costs:
Fixed costs (for the month)		21,000
Variable costs (per unit)		4

Required:

Compute the following:

4.Full absorption cost per unit.

5.Prime cost per unit.

6.Conversion cost per unit.

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