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Question - ABC Engineering incurred the following costs in making and selling 420 units of finished product. There was no incomplete work during the period.
Plant and maintenance costs $1,659
Direct material 4,536
Marketing 2,400
Factory insurance 1,748
Factory power 3,465
Direct labour 7,560
Factory rent 4,552
Required -
1. Calculate the total cost and the unit cost where the firm uses:
a) Absorption costing, and
b) Direct costing
2. If the selling price is $70 per unit, calculate the gross and net profits under each method.
B) Direct costing
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