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Compute the unit product cost for one gamelan

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Reference no: EM132528726

Ida Sidha Karya Company is a family-owned company located on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone.

The gamelans are sold for $760. Selected data for the company's operations last year follow:

Units in beginning inventory 0

Units produced 18,000

Units sold 15,000

Units in ending inventory 3,000

Variable costs per unit:

Direct materials $ 220

Direct labor $ 350

Variable manufacturing overhead $ 47

Variable selling and administrative $ 21

Fixed costs:

Fixed manufacturing overhead $ 600,000

Fixed selling and administrative $ 610,000

Required:

Question 1: Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. (Round your intermediate calculations and final answer to the nearest whole dollar amount.)

Question 2:  Assume that the company uses variable costing. Compute the unit product cost for one gamelan.

Reference no: EM132528726

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