Chapter 14, Problem 32MCQ

How much gross profit was realized from this sale on this general accounting question?

Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its unit costs are as follows: Amount Per Unit Direct materials $ 6 Direct labor $ 3.50 Variable manufacturing overhead $ 1.50 Fixed manufacturing overhead $ 4 Fixed selling expense $ 3 Fixed administrative expense $2 Sales commissions $ 1 $ 0.50 Variable administrative expense Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 10,000 units? 2. For financial accounting purposes, what is the total amount of period costs incurred to sell 10,000 units? 3. If 8,000 units are sold, what is the variable cost per unit sold? 4. If 12,500 units are sold, what is the variable cost per unit sold?

Which of the following is included in inventory costs? A. Period costs. B. Product and period costs. C. Product costs. D. Neither product or period costs.

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Please provide solution this following requirements on these general accounting question

The ending balance of the Goods in Process Inventory account for the Machining Department is:

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