Reference no: EM132962022
Question - Apollo Corporation produces and sells a single product, sewing machines. Selected cost and operating data relating to the product for last year are given below:
Apollo Corporation
Selling price per unit $180
Units produced during the year 2,000
Units sold during the year 1,800
Variable costs per units:
Direct materials, direct labor, and variable manufacturing overhead $45
Variable selling and administrative expenses $20
Fixed costs per year:
Fixed manufacturing overhead $100,000
Fixed selling and administrative expenses $70,000
Required -
1. Assume the company uses absorption costing. What was the company's unit product cost last year?
2. Assume the company uses absorption costing. What was the company's gross margin last year?
3. Assume the company uses absorption costing. How much fixed manufacturing overhead cost was deferred in inventories during last year?
4. Assume the company uses variable costing. What was the company's total contribution margin last year?
5. Assume the company uses variable costing. What was the company's net operating income last year?
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