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Unit Costs, Inventory Valuation, Variable and Absorption Costing Snyder Company produced 82,600 units during its first year of operations and sold 80,700 at $22.07 per unit. The company chose practical activity-at 82,600 units-to compute its predetermined overhead rate. Manufacturing costs are as follows: Direct materials Direct labor Expected and actual variable overhead Expected and actual fixed overhead Required: If required, round unit cost answers to the nearest cent. 1. Calculate the unit cost and the cost of finished goods inventory under absorption costing. Unit Cost $485,688 110,684 325,444 422,086 Cost of finished goods inventory 2. Calculate the unit cost and the cost of finished goods inventory under variable costing. Unit Cost Cost of finished goods inventory

Unit Costs, Inventory Valuation, Variable and Absorption Costing Snyder Company produced 82,600 units during its first year of operations and sold 80,700 at $22.07 per unit. The company chose practical activity-at 82,600 units-to compute its predetermined overhead rate. Manufacturing costs are as follows: Direct materials Direct labor Expected and actual variable overhead Expected and actual fixed overhead Required: If required, round unit cost answers to the nearest cent. 1. Calculate the unit cost and the cost of finished goods inventory under absorption costing. Unit Cost $485,688 110,684 325,444 422,086 Cost of finished goods inventory 2. Calculate the unit cost and the cost of finished goods inventory under variable costing. Unit Cost Cost of finished goods inventory

FINANCIAL ACCOUNTING
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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Unit Costs, Inventory Valuation, Variable and Absorption Costing Snyder Company produced 82,600 units during its first year of operations and sold 80,700 at $22.07 per unit. The company chose practical activity-at 82,600 units-to compute its predetermined overhead rate. Manufacturing costs are as follows: Direct materials Direct labor Expected and actual variable overhead Expected and actual fixed overhead Required: Unit Cost $485,688 Cost of finished goods inventory 110,684 325,444 If required, round unit cost answers to the nearest cent. 1. Calculate the unit cost and the cost of finished goods inventory under absorption costing. Unit Cost Cost of finished goods inventory 2. Calculate the unit cost and the cost of finished goods inventory under variable costing. 422,086
Transcribed Image Text:Unit Costs, Inventory Valuation, Variable and Absorption Costing Snyder Company produced 82,600 units during its first year of operations and sold 80,700 at $22.07 per unit. The company chose practical activity-at 82,600 units-to compute its predetermined overhead rate. Manufacturing costs are as follows: Direct materials Direct labor Expected and actual variable overhead Expected and actual fixed overhead Required: Unit Cost $485,688 Cost of finished goods inventory 110,684 325,444 If required, round unit cost answers to the nearest cent. 1. Calculate the unit cost and the cost of finished goods inventory under absorption costing. Unit Cost Cost of finished goods inventory 2. Calculate the unit cost and the cost of finished goods inventory under variable costing. 422,086
2. Calculate the unit cost and the cost of finished goods inventory under variable costing. Unit Cost Cost of finished goods inventory 3. What is the dollar amount that would be used to report the cost of finished goods inventory to external parties? $ Why?
Transcribed Image Text:2. Calculate the unit cost and the cost of finished goods inventory under variable costing. Unit Cost Cost of finished goods inventory 3. What is the dollar amount that would be used to report the cost of finished goods inventory to external parties? $ Why?
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