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Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $286,650 $264,726 Oriole Company sells the fishing lures for $31.50. During 2020, the company sold 82,000 lures and produced 91,000 lures. (a) Assuming the company uses variable costing, calculate Oriole's manufacturing cost per unit for 2020. (Round answer to 2 decimal places, eg. 10.50)

Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $286,650 $264,726 Oriole Company sells the fishing lures for $31.50. During 2020, the company sold 82,000 lures and produced 91,000 lures. (a) Assuming the company uses variable costing, calculate Oriole's manufacturing cost per unit for 2020. (Round answer to 2 decimal places, eg. 10.50)

FINANCIAL ACCOUNTING
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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Oriole Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs. Variable Costs per Unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses (a) Oriole Company sells the fishing lures for $31.50. During 2020, the company sold 82,000 lures and produced 91,000 lures. $9.45 $4.35 $7.31 $4.91 Manufacturing cost per unit $286,650 $264,726 Assuming the company uses variable costing, calculate Oriole's manufacturing cost per unit for 2020. (Round answer to 2 decimal places, e.g. 10.50.) $
Transcribed Image Text:Oriole Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs. Variable Costs per Unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses (a) Oriole Company sells the fishing lures for $31.50. During 2020, the company sold 82,000 lures and produced 91,000 lures. $9.45 $4.35 $7.31 $4.91 Manufacturing cost per unit $286,650 $264,726 Assuming the company uses variable costing, calculate Oriole's manufacturing cost per unit for 2020. (Round answer to 2 decimal places, e.g. 10.50.) $
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