Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs. Variable Costs per Unit Direct materials $9.45 Direct labor $4.35 Variable manufacturing overhead $7.31 Variable selling and administrative expenses $4.91 Fixed Costs per Year $286.650 Fixed manufacturing overhead Fixed selling and administrative expenses $264.726 Siren Company sells the fishing lures for $31.50. During 2020, the company sold 82.000 lures and produced 91.000 lures.

Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs. Variable Costs per Unit Direct materials $9.45 Direct labor $4.35 Variable manufacturing overhead $7.31 Variable selling and administrative expenses $4.91 Fixed Costs per Year $286.650 Fixed manufacturing overhead Fixed selling and administrative expenses $264.726 Siren Company sells the fishing lures for $31.50. During 2020, the company sold 82.000 lures and produced 91.000 lures.

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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