Trio Company reports the following information for the current year, which is its first year of operations. 13 per unit 17 per unit Direct materials $ $ Direct labor Overhead costs for the year Variable overhead 2$ $ 180,000 per year 22,500 units 16,500 units 6,000 units 4 per unit Fixed overhead Units produced this year Units sold this year Ending finished goods inventory in units 1. Compute the product cost per unit using absorption costing. Cost per unit of finished goods using: Absorption costing Cost per unit of finished goods 2. Determine the cost of ending finished goods inventory using absorption costing. Cost per unit of finished goods using: Absorption costing Number of units in finished goods Total cost of finished goods inventory 3. Determine the cost of goods sold using absorption costing. Cost per unit of goods sold using: Absorption costing Number of units in sold goods Total cost of sold goods

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Trio Company reports the following information for the current year, which is its first year of operations.
Direct materials
$
$
13 per unit
17 per unit
Direct labor
Overhead costs for the year
Variable overhead
$
$ 180,000 per year
22,500 units
16,500 units
6,000 units
4 per unit
Fixed overhead
Units produced this year
Units sold this year
Ending finished goods inventory in units
1. Compute the product cost per unit using absorption costing.
Cost per unit of finished goods using:
Absorption costing
Cost per unit of finished goods
2. Determine the cost of ending finished goods inventory using
absorption costing.
Cost per unit of finished goods using:
Absorption costing
Number of units in finished goods
Total cost of finished goods inventory
3. Determine the cost of goods sold using absorption costing.
Cost per unit of goods sold using:
Absorption costing
Number of units in sold goods
Total cost of sold goods
Transcribed Image Text:Trio Company reports the following information for the current year, which is its first year of operations. Direct materials $ $ 13 per unit 17 per unit Direct labor Overhead costs for the year Variable overhead $ $ 180,000 per year 22,500 units 16,500 units 6,000 units 4 per unit Fixed overhead Units produced this year Units sold this year Ending finished goods inventory in units 1. Compute the product cost per unit using absorption costing. Cost per unit of finished goods using: Absorption costing Cost per unit of finished goods 2. Determine the cost of ending finished goods inventory using absorption costing. Cost per unit of finished goods using: Absorption costing Number of units in finished goods Total cost of finished goods inventory 3. Determine the cost of goods sold using absorption costing. Cost per unit of goods sold using: Absorption costing Number of units in sold goods Total cost of sold goods
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