Chapter 6, Problem 9DQ

Account

Trio Company reports the following information for the current year, which is its first year of operations. Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Units produced this year Units sold this year $ 9.50 per unit $ 10.50 per unit $ 185,350 per year $260,000 per year 33,700 units 25,500 units Ending finished goods inventory in units 8,200 units a. Compute the product cost per unit using variable costing. b. Determine the cost of ending finished goods inventory using variable costing. c. Determine the cost of goods sold using variable costing.

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Alpha Corporation applies overhead costs to jobs on the basis of direct labor Costs.

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The following information appeared in the accounting records

During the current year, merchandise is sold for $570,000 cash and $1,690,000 on account. The cost of the merchandise sold is $1,220,000. What is the amount of the gross profit?

Smitha pension trust reported solution general accounting question