Ing Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 159 Units in beginning inventory 0 Units produced 7,800 Units sold 7,700 Units in ending inventory 100 Variable costs per unit: Direct materials $ 47 Direct labor $ 50 Variable manufacturing overhead $ 2 Variable selling and administrative expense $ 9 Fixed costs: Fixed manufacturing overhead $ 304,200 Fixed selling and administrative expense $ 84,700 What is the unit product cost for the month under variable costing?
Ing Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 159 Units in beginning inventory 0 Units produced 7,800 Units sold 7,700 Units in ending inventory 100 Variable costs per unit: Direct materials $ 47 Direct labor $ 50 Variable manufacturing overhead $ 2 Variable selling and administrative expense $ 9 Fixed costs: Fixed manufacturing overhead $ 304,200 Fixed selling and administrative expense $ 84,700 What is the unit product cost for the month under variable costing?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Ing Corporation, which has only one product, has provided the following data concerning its most recent month of operations:
| Selling price | $ | 159 |
| Units in beginning inventory | 0 | |
| Units produced | 7,800 | |
| Units sold | 7,700 | |
| Units in ending inventory | 100 |
| Variable costs per unit: | ||
| Direct materials | $ | 47 |
| Direct labor | $ | 50 |
| Variable manufacturing |
$ | 2 |
| Variable selling and administrative expense | $ | 9 |
| Fixed costs: | ||
| Fixed manufacturing overhead | $ | 304,200 |
| Fixed selling and administrative expense | $ | 84,700 |
What is the unit product cost for the month under variable costing?
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