Information from the records of the Conundrum Company for September 2018 was as follows: Sales $307,500 Selling and administrative expenses 52,500 Direct materials used 66,000 Direct labor 75,000 Variable factory overhead 50,000 Factory overhead 51,250 Inventories Sept. 1, 2018 Sept 30, 2018 Direct materials $ 8,000 $10,500 Work in process 18,750 21,000 Finished goods 17,250 14,250 Conundrum Corporation produced 20,000 units. What is the total product cost per unit? a.$12.1125 b.$12.175 c.$14.7375 d.$12.2375

Information from the records of the Conundrum Company for September 2018 was as follows: Sales $307,500 Selling and administrative expenses 52,500 Direct materials used 66,000 Direct labor 75,000 Variable factory overhead 50,000 Factory overhead 51,250 Inventories Sept. 1, 2018 Sept 30, 2018 Direct materials $ 8,000 $10,500 Work in process 18,750 21,000 Finished goods 17,250 14,250 Conundrum Corporation produced 20,000 units. What is the total product cost per unit? a.$12.1125 b.$12.175 c.$14.7375 d.$12.2375

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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Question

Information from the records of the Conundrum Company for September 2018 was as follows:

Sales	$307,500
Selling and administrative expenses	52,500
Direct materials used	66,000
Direct labor	75,000
Variable factory overhead	50,000
Factory overhead	51,250

	Inventories
	Sept. 1, 2018	Sept 30, 2018
Direct materials	$ 8,000	$10,500
Work in process	18,750	21,000
Finished goods	17,250	14,250

Conundrum Corporation produced 20,000 units.

What is the total product cost per unit?

a.$12.1125

b.$12.175

c.$14.7375

d.$12.2375

Definition Definition Indirect costs incurred while producing goods or services. Overhead costs cannot be directly attributed to products or services. Overhead includes indirect material cost, indirect labor cost, rent, utilities expenses, and depreciation. Since these costs directly affect the profitability of a company, managing overhead becomes an important task for management.

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