Trio Company reports the following information for its first year of operations. Direct materials $ 19 per unit Direct labor $ 20 per unit Variable overhead $ 8 per unit Fixed overhead $ 242,400 per year Units produced 20,200 units Units sold 16,000 units Ending finished goods inventory 4,200 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.
Trio Company reports the following information for its first year of operations. Direct materials $ 19 per unit Direct labor $ 20 per unit Variable overhead $ 8 per unit Fixed overhead $ 242,400 per year Units produced 20,200 units Units sold 16,000 units Ending finished goods inventory 4,200 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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Trio Company reports the following information for its first year of operations.
| Direct materials | $ 19 | per unit |
|---|---|---|
| Direct labor | $ 20 | per unit |
| Variable |
$ 8 | per unit |
| Fixed overhead | $ 242,400 | per year |
| Units produced | 20,200 | units |
| Units sold | 16,000 | units |
| Ending finished goods inventory | 4,200 | 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: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.
Product cost per unit of finished goods using:
Product cost per unit
Absorption costing
$
Required 1
0
Required 2
>
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