Variable Costing, Value of Ending Inventory, Operating Income Pattison Products, Inc., began operations in October and manufactured 48,000 units during the month with the following unit costs: Direct materials $4.80 Direct labor 2.80 Variable overhead 1.40 Fixed overhead* 6.80 Variable marketing cost 1.10 * Fixed overhead per unit = $326,400 / 48,000 units produced = $6.80 Total fixed factory overhead is $326,400 per month. During October, 46,900 units were sold at a price of $25, and fixed marketing and administrative expenses were $118,100. Required: 1. Calculate the cost of each unit using variable costing. Round your final answer to the nearest cent. per unit 2. How many units remain in ending inventory? units What is the cost of ending inventory using variable costing?

Variable Costing, Value of Ending Inventory, Operating Income Pattison Products, Inc., began operations in October and manufactured 48,000 units during the month with the following unit costs: Direct materials $4.80 Direct labor 2.80 Variable overhead 1.40 Fixed overhead* 6.80 Variable marketing cost 1.10 * Fixed overhead per unit = $326,400 / 48,000 units produced = $6.80 Total fixed factory overhead is $326,400 per month. During October, 46,900 units were sold at a price of $25, and fixed marketing and administrative expenses were $118,100. Required: 1. Calculate the cost of each unit using variable costing. Round your final answer to the nearest cent. per unit 2. How many units remain in ending inventory? units What is the cost of ending inventory using variable costing?

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Description: Variable Costing, Value of Ending Inventory, Operating Income 3. Prepare a variable-costing income statement for Pattison Products, Inc., for the month of October.Pattison Products, Inc.Variable-Costing IncomeStatementFor the Month of OctoberLess:Con

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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