Calculate sele manufacturing cost per unit

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Reference no: EM13138383

Sele Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2010, the company incurred the following costs.

Variable Cost per Unit
Direct materials $6.50
Direct labor $2.45
Variable manufacturing overhead $5.75
Variable selling and administrative expenses $3.90

Fixed Costs per Year
Fixed manufacturing overhead $282,150
Fixed selling and administrative expenses $240,100

Sele Company sells the fishing lures for $25. During 2010, the company sold 80,000 lures and produced 95,000 lures.

Instructions

(a) Assuming the company uses variable costing, calculate Sele’s manufacturing cost per unit for 2010.

(b) Prepare a variable costing income statement for 2010.

(d) Prepare an absorption costing income statement for 2010.

Reference no: EM13138383

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