Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $914. Selected data for the company's operations last year follow: Units in beginning inventory Units produced 19,000 Units sold 15,000 Units in ending inventory 4,000 Variable costs per unit: Direct materials 270 Direct labor 410 Variable manufacturing overhead 62 Variable selling and administrative 20 Fixed costs: Fixed manufacturing overhead 800,000 Fixed selling and administrative 780,000 Required: 1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. (Round your Intermedlate calculations and final answer to the nearest whole dollar amount.) 2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan. %24

Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $914. Selected data for the company's operations last year follow: Units in beginning inventory Units produced 19,000 Units sold 15,000 Units in ending inventory 4,000 Variable costs per unit: Direct materials 270 Direct labor 410 Variable manufacturing overhead 62 Variable selling and administrative 20 Fixed costs: Fixed manufacturing overhead 800,000 Fixed selling and administrative 780,000 Required: 1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. (Round your Intermedlate calculations and final answer to the nearest whole dollar amount.) 2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan. %24

Name: Ida Company produces a handcrafted musical instrument called a gamela
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Description: Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone.The gamelans are sold for $914. Selected data for the company's operations last year follow:Units in beginning inventoryUnits produced19,000Units s

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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