Ramort Company reports the following cost data for its single product. The company regularly sells 20,500 units of its product at a price of $61 per unit. Direct materials Direct labor Overhead costs for the year: Variable overhead Fixed overhead per year Selling and administrative costs for the year: Variable Fixed $10.10 per unit $12.10 per unit $3.10 per unit $44,100 $2.10 per unit $65,300 Normal production level (in units) 20,500 units Compute gross margin under absorption costing.

Cornerstones of Cost Management (Cornerstones Series)
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Chapter9: Standard Costing: A Functional-based Control Approach
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Accounting remort company reports the following cost data for its single product

Ramort Company reports the following cost data for its single product. The
company regularly sells 20,500 units of its product at a price of $61 per unit.
Direct materials
Direct labor
Overhead costs for the year:
Variable overhead
Fixed overhead per year
Selling and administrative costs for the year:
Variable
Fixed
$10.10 per unit
$12.10 per unit
$3.10 per unit
$44,100
$2.10 per unit
$65,300
Normal production level (in units)
20,500 units
Compute gross margin under absorption costing.
Transcribed Image Text:Ramort Company reports the following cost data for its single product. The company regularly sells 20,500 units of its product at a price of $61 per unit. Direct materials Direct labor Overhead costs for the year: Variable overhead Fixed overhead per year Selling and administrative costs for the year: Variable Fixed $10.10 per unit $12.10 per unit $3.10 per unit $44,100 $2.10 per unit $65,300 Normal production level (in units) 20,500 units Compute gross margin under absorption costing.
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