Please refer to pictures for parts 1 and 2, here is part 3: Cost per unit of goods sold using:Absorption costingProduct cost per unit Number of units sold Cost of sold goods Trio Company reports the following information for its first year of operations.$ 17 per unit$ 18 per unit$6 per unitDirect materialsDirect laborVariable overheadFixed overheadUnits producedUnits soldEnding finished goods inventory1. Compute the product cost per unit using absorption costing.2. Determine the cost of ending finished goods inventory using absorption costing.3. Determine the cost of goods sold using absorption costing.Complete this question by entering your answers in the tabs below.Required 1 Required 2 Required 3Compute the product cost per unit using absorption costing.Product cost per unit of finished goods using:$ 201,000 per year20,100 units15,000 units5,100 unitsProduct cost per unitAbsorption costingGA0 Required 1 Required 2 Required 3Determine the cost of ending finished goods inventory using absorption costing.Cost per unit of finished goods using:Absorption costingProduct cost per unitNumber of units in finished goodsCost of ending finished goods inventory

Name: Please refer to pictures for parts 1 and 2, here is part 3: Cost per
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Description: Please refer to pictures for parts 1 and 2, here is part 3: Cost per unit of goods sold using:Absorption costingProduct cost per unit Number of units sold Cost of sold goods Trio Company reports the following information for its first year of opera

Absorption Costing :Absorption Costing - Absorption costing is a method of accounting that includes…

Business

Accounting

Trio Company reports the following information for its first year of operations. $ 17 per unit $ 18 per unit $6 per unit $ 201,000 per year 20,100 units Direct materials Direct labor Variable overhead Fixed overhead Units produced

Trio Company reports the following information for its first year of operations. $ 17 per unit $ 18 per unit $6 per unit $ 201,000 per year 20,100 units Direct materials Direct labor Variable overhead Fixed overhead Units produced

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Concept explainers

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.

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Question

Please refer to pictures for parts 1 and 2, here is part 3:

Cost per unit of goods sold using:	Absorption costing
Product cost per unit
Number of units sold
Cost of sold goods

Trio Company reports the following information for its first year of operations.
$ 17 per unit
$ 18 per unit
$6 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:
$ 201,000 per year
20,100 units
15,000 units
5,100 units
Product cost per unit
Absorption costing
GA
0

Required 1 Required 2 Required 3
Determine the cost of ending finished goods inventory using absorption costing.
Cost per unit of finished goods using:
Absorption costing
Product cost per unit
Number of units in finished goods
Cost of ending finished goods inventory

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