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Estimate the fixed costs per year

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Reference no: EM132798153

Question - Riley Company would like to estimate production costs on an annual basis. Costs incurred for direct materials and direct labor are variable costs. The accounting records indicate the following production costs were incurred last year for 40,000 units:

Direct materials $ 60,000

 Direct labor 80,000

 Manufacturing overhead 200,000

(20% fixed 80% variable)

Required - Use account analysis to estimate the fixed costs per year, and the variable cost per unit.

Reference no: EM132798153

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