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Waterloo Storage Products makes a four-drawer plastic storage cabinet on casters meant for use in garages and workshops. Each cabinet sells for $45. Data for last year's operations follow: Units in beginning inventory Units produced Units sold Units in ending inventory 21,600 19,800 1,800 Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative. Total variable cost per unit Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Total fixed costs Required: $ 10 12 4 6 $ 32 $ 83,500 118,500 $282,000 1. Assume that the company uses variable costing. Compute the unit product cost for one storage cabinet. Unit product cost

Waterloo Storage Products makes a four-drawer plastic storage cabinet on casters meant for use in garages and workshops. Each cabinet sells for $45. Data for last year's operations follow: Units in beginning inventory Units produced Units sold Units in ending inventory 21,600 19,800 1,800 Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative. Total variable cost per unit Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Total fixed costs Required: $ 10 12 4 6 $ 32 $ 83,500 118,500 $282,000 1. Assume that the company uses variable costing. Compute the unit product cost for one storage cabinet. Unit product cost

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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Waterloo Storage Products makes a four-drawer plastic storage cabinet on casters meant for use in garages and workshops. Each cabinet sells for $45. Data for last year's operations follow: Units in beginning inventory Units produced Units sold Units in ending inventory 21,600 19,800 1,800 Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative. Total variable cost per unit Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Total fixed costs Required: $ 10 12 4 6 $ 32 $ 83,500 118,500 $282,000 1. Assume that the company uses variable costing. Compute the unit product cost for one storage cabinet. Unit product cost
Transcribed Image Text:Waterloo Storage Products makes a four-drawer plastic storage cabinet on casters meant for use in garages and workshops. Each cabinet sells for $45. Data for last year's operations follow: Units in beginning inventory Units produced Units sold Units in ending inventory 21,600 19,800 1,800 Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative. Total variable cost per unit Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Total fixed costs Required: $ 10 12 4 6 $ 32 $ 83,500 118,500 $282,000 1. Assume that the company uses variable costing. Compute the unit product cost for one storage cabinet. Unit product cost
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