Trio Company reports the following information for its first year of operations. $ 13 per unit $ 17 per unit $ 4 per unit Direct materials Direct labor Variable overhead Fixed overhead Units produced Units sold Ending finished goods inventory $326,400 per year 20,400 units 17,000 units 3,400 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. $ 13 per unit $ 17 per unit $ 4 per unit Direct materials Direct labor Variable overhead Fixed overhead Units produced Units sold Ending finished goods inventory $326,400 per year 20,400 units 17,000 units 3,400 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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Transcribed Image Text:Trio Company reports the following information for its first year of operations.
$ 13 per unit
$17 per unit
Direct materials
Direct labor
Variable overhead
Fixed overhead
Units produced
Units sold
Ending finished goods inventory
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:
Direct materials
Direct labor
Variable overhead
Fixed overhead
Product cost per unit
$ 4 per unit
$ 326,400 per year
20,400 units
17,000 units
3,400 units
Absorption costing
$
13
17
4
$
34
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