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Product Cost in Total and Per Unit Grin Company manufactures digital cameras. In January, Grin produced 5,250 cameras with the following costs: Direct materials $440,000 Direct labor 88,000 Manufacturing overhead 352,000 There were no beginning or ending inventories of WIP. Required: 1. What was the total product cost in January? 677,878 2. What was the product cost per unit in January? Round your answer to the nearest cent. %24 per unit %24

Product Cost in Total and Per Unit Grin Company manufactures digital cameras. In January, Grin produced 5,250 cameras with the following costs: Direct materials $440,000 Direct labor 88,000 Manufacturing overhead 352,000 There were no beginning or ending inventories of WIP. Required: 1. What was the total product cost in January? 677,878 2. What was the product cost per unit in January? Round your answer to the nearest cent. %24 per unit %24

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Product Cost in Total and Per Unit Grin Company manufactures digital cameras. In January, Grin produced 5,250 cameras with the following costs: Direct materials $440,000 Direct labor 88,000 Manufacturing overhead 352,000 There were no beginning or ending inventories of WIP. Required: 1. What was the total product cost in January? 677,878 2. What was the product cost per unit in January? Round your answer to the nearest cent. %24 per unit %24
Transcribed Image Text:Product Cost in Total and Per Unit Grin Company manufactures digital cameras. In January, Grin produced 5,250 cameras with the following costs: Direct materials $440,000 Direct labor 88,000 Manufacturing overhead 352,000 There were no beginning or ending inventories of WIP. Required: 1. What was the total product cost in January? 677,878 2. What was the product cost per unit in January? Round your answer to the nearest cent. %24 per unit %24
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