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.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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 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.

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
>
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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