The accounting records of NuTronics, Inc., include the following information for the year ended December 31. Dec. 31 Jan. 1Inventory of materials $24,000 $20,000 Inventory of work in process 8,000 12,000 Inventory of finished goods 90,000 80,000 Direct materials used 210,000 Direct labor 120,000 Selling expenses 170,000 General and administrative expenses 140,000 Overhead assigned to production was $192,000.Assume that the company manufactures a single product and that 20,000 units were completed during the year. What is the average per-unit cost of manufacturing this product?

Cost of goods manufactured includes direct materials used, direct labor and applied overhead and…

Answered: Dec. 31 Jan. 1 Inventory of materials…

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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The accounting records of NuTronics, Inc., include the following information for the year ended December 31.

	Dec. 31		Jan. 1
Inventory of materials	$	24,000		$	20,000
Inventory of work in process		8,000			12,000
Inventory of finished goods		90,000			80,000
Direct materials used		210,000
Direct labor		120,000
Selling expenses		170,000
General and administrative expenses		140,000

Overhead assigned to production was $192,000.

Assume that the company manufactures a single product and that 20,000 units were completed during the year. What is the average per-unit cost of manufacturing this product?

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