Trio Company reports the following information for the current year, which is its first year of operations. Direct materials 11 per unit 18 per unit Direct labor $ Overhead costs for the year Variable overhead 3 per unit $ 150,000 per year Fixed overhead Units produced this year Units sold this year Ending finished goods inventory in units 25,000 units 19,000 units 6,000 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

Trio Company reports the following information for the current year, which is its first year of operations. Direct materials 11 per unit 18 per unit Direct labor $ Overhead costs for the year Variable overhead 3 per unit $ 150,000 per year Fixed overhead Units produced this year Units sold this year Ending finished goods inventory in units 25,000 units 19,000 units 6,000 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

Name: Trio Company reports the following information for the current year,
Uploaded: 2024-03-20T06:32:49.000Z
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Description: Trio Company reports the following information for the current year, which is its first year of operations.Direct materials$$11 per unit18 per unitDirect laborOverhead costs for the yearVariable overhead3 per unit$ 150,000 per yearFixed overheadUnit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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