Required information [The following information applies to the questions displayed below.] Trio Company reports the following information for its first year of operations. $ 13 per unit $ 17 per unit $7 per unit Direct materials Direct labor Variable overhead Fixed overhead Units produced Units sold Ending finished goods inventory $220,950 per year 24,550 units 18,000 units 6,550 units 1. Compute the product cost per unit using absorption costing. 2. Determine the cost of ending finished goods inventory using absorption costing. 3. Determine the cost of goods sold using absorption costing.
Required information [The following information applies to the questions displayed below.] Trio Company reports the following information for its first year of operations. $ 13 per unit $ 17 per unit $7 per unit Direct materials Direct labor Variable overhead Fixed overhead Units produced Units sold Ending finished goods inventory $220,950 per year 24,550 units 18,000 units 6,550 units 1. Compute the product cost per unit using absorption costing. 2. Determine the cost of ending finished goods inventory using absorption costing. 3. Determine the cost of goods sold using absorption costing.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Required information
[The following information applies to the questions displayed below.]
Trio Company reports the following information for its first year of operations.
$13 per unit
$ 17 per unit
$7 per unit
Direct materials
Direct labor
Variable overhead
Fixed overhead
Units produced
Units sold
Ending finished goods inventory
$ 220,950 per year
24,550 units
18,000 units
6,550 units
1. Compute the product cost per unit using absorption costing.
2. Determine the cost of ending finished goods inventory using absorption costing.
3. Determine the cost of goods sold using absorption costing.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F739654ea-7ce4-4097-87e2-32b7d528493b%2F77e1747d-2aa6-4a4a-9b79-56082464b4d5%2F2m7h3w_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Trio Company reports the following information for its first year of operations.
$13 per unit
$ 17 per unit
$7 per unit
Direct materials
Direct labor
Variable overhead
Fixed overhead
Units produced
Units sold
Ending finished goods inventory
$ 220,950 per year
24,550 units
18,000 units
6,550 units
1. Compute the product cost per unit using absorption costing.
2. Determine the cost of ending finished goods inventory using absorption costing.
3. Determine the cost of goods sold using absorption costing.

Transcribed Image Text:1. Compute the product cost per unit using absorption costing.
2. Determine the cost of ending finished goods inventory using absorption costing.
3. Determine the cost of goods sold using absorption costing.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2 Required 3
Compute the product cost per unit using absorption costing.
Absorption
costing
Product cost per unit of finished goods using:
Fixed overhead
Direct materials
Variable overhead.
Direct labor
X Answer is not complete.
Product cost per unit
3333
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